# Folks Finance

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/folks-finance

- Industry: Financial Services
- Headquarters: Milan, Italy
- Website: www.folks.finance
- Total disclosed funding: $4.2M
- Latest round: Series A (Nov 14, 2024)
- Investors on record: 38

## About

Based in Milan, Italy, and founded in 2021, Folks Finance doing business as Folks Global Ltd operates as a financial service company is the leading capital markets protocol for lending and borrowing built and operated on top of the Algorand blockchain. OverviewIn November 2024, Folks Finance raised USD 1.2 million in series A funding led by returning investor Borderless Capital, with participation from new investors EVO Invest Fund, Unreal Capital, Algorand Foundation Ltd., Mapleblock Capital, Sovo Ventures, Dutch Crypto Investors, DuckDAO, Dewhales Capital, Titan Ventures, Selini Capital, DEXT Force Ventures, Offbeat Ventures, Absoluta Digital, Hulk Crypto Capital Ventures, Stakez Capital, Skybridge 20 Ventures, Coinvision, DIB Ventures, Majinx Capital, 2x17, Suin, Danu Venture Group, Trinity Ventures, Moon Capital Management Lp, and Black Alpha Capital. Other returning investors Coinbase Ventures, OKEx Blockdream Ventures, ParaFi Capital, Jump Crypto, individual, and other unspecified investors also participated in the round. The round was part of a larger USD 3.2 million series A funding. Folks Global Ltd is a builder of a financial technology platform for borrowing and lending based on the Algorand blockchain. Furthermore, the company employs capital markets protocol to ensure scalability, low transaction costs, and high levels of security, allowing users to deposit cash to earn an economic return while also obtaining a loan through the provision of a guarantee. Additionally, users can deposit liquidity and start earning a continuous economic return instantly. The company plans to use the November 2024 funds to accelerate the cross-chain expansion of its xchain app, enabling users to lend, borrow, and trade across multiple networks including avalanche, base, Ethereum, arbitrum, and bnb chain, with plans to integrate additional networks.

## Funding rounds

- Series A, Nov 14, 2024, $1.2M — Trinity Ventures, Algorand Foundation Ltd., Coinbase Ventures, Borderless Capital, OKEx Blockdream Ventures, DuckDAO, Selini Capital, Jump Crypto, Mapleblock Capital, Dutch Crypto Investors, Unreal Capital, Titan Ventures, Hulk Crypto Capital  Ventures, Moon Capital Management Lp, ParaFi Capital, Dewhales Capital, Danu Venture Group, Majinx Capital, DEXT Force Ventures, Sovo, Offbeat Ventures, EVO Invest, Absoluta Digital, Stakez Capital, Skybridge 20 Ventures, Coinvision, DIB Ventures, 2x17 Fund, SuiN Alliance, Black Alpha Capital
- Seed, Jan 20, 2022, $3M — Valhalla Capital Group, Genesis Capital, Coinbase Ventures, Youbi Capital, Borderless Capital, OKEx Blockdream Ventures, Gains Associates, Polymorphic Capital, 0xVentures, ZBS Capital, Jump Crypto, Meld Ventures, ParaFi Capital

## Investors

- Valhalla Capital Group — Seed
- Genesis Capital — Seed
- Coinbase Ventures (https://capitalatlas.ai/funds/coinbase-ventures) — Seed, Series A
- Youbi Capital (https://capitalatlas.ai/funds/youbi-capital) — Seed
- Borderless Capital (https://capitalatlas.ai/funds/borderless-capital) — Seed, Series A
- OKEx Blockdream Ventures — Seed, Series A
- Gains Associates (https://capitalatlas.ai/funds/gains-associates) — Seed
- Polymorphic Capital (https://capitalatlas.ai/funds/polymorphic-capital) — Seed
- 0xVentures (https://capitalatlas.ai/funds/0xventures) — Seed
- ZBS Capital (https://capitalatlas.ai/funds/zbs-capital) — Seed
- Jump Crypto — Seed, Series A
- Meld Ventures — Seed
- ParaFi Capital (https://capitalatlas.ai/funds/parafi-capital) — Seed, Series A
- Trinity Ventures (https://capitalatlas.ai/funds/trinity-ventures) — Series A
- Algorand Foundation Ltd. — Series A
- DuckDAO — Series A
- Selini Capital (https://capitalatlas.ai/funds/selini-capital) — Series A
- Mapleblock Capital (https://capitalatlas.ai/funds/mapleblock-capital) — Series A
- Dutch Crypto Investors (https://capitalatlas.ai/funds/dutch-crypto-investors) — Series A
- Unreal Capital — Series A
- Titan Ventures (https://capitalatlas.ai/funds/titan-ventures) — Series A
- Hulk Crypto Capital  Ventures — Series A
- Moon Capital Management Lp — Series A
- Dewhales Capital (https://capitalatlas.ai/funds/dewhales-capital) — Series A
- Danu Venture Group (https://capitalatlas.ai/funds/danu-venture-group) — Series A
- Majinx Capital (https://capitalatlas.ai/funds/majinx-capital) — Series A
- DEXT Force Ventures — Series A
- Sovo (https://capitalatlas.ai/funds/sovo) — Series A
- Offbeat Ventures — Series A
- EVO Invest — Series A
- Absoluta Digital — Series A
- Stakez Capital — Series A
- Skybridge 20 Ventures — Series A
- Coinvision — Series A
- DIB Ventures — Series A
- 2x17 Fund — Series A
- SuiN Alliance — Series A
- Black Alpha Capital — Series A