Cedro Finance is pleased to announce that it has raised $1.5 million in a pre-seed round led by Shima Capital. Cedro is an Omnichain Liquidity Platform that allows users to seamlessly lend and borrow across chains. The round was also attended by Infinity Ventures Crypto, Mask Network, and Sam Thapaliya.
The money will be used to expand the team and accelerate the development of Cedro’s platform.
Cedro’s vision is to provide a consistent user experience for this cross-chain process while maintaining security. The same action that previously required 50 clicks can now be completed in 5 clicks. Cedro began as an omnichain lending and borrowing protocol, but eventually hopes to become an omnichain financial hub, and new products are currently in development.
Cedro Finance has been active on the testnet since December 2022, processing over 159,000 transactions.
Cedro Finance is a Liquidity Layer on the Omnichain. Users can lend and borrow across multiple chains with a few clicks and an excellent user experience. Our cutting-edge architecture and features maximize capital efficiency. On top of Cedro, multiple products are in the works. Rachin Kalakheti, a Stanford undergraduate, founded the Bay Area-based Cedro Finance in June of last year.