# Lombard Finance

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

- Industry: Software
- Headquarters: UK
- Website: www.lombard.finance/
- Total disclosed funding: $16M
- Latest round: Seed (Jul 2, 2024)
- Investors on record: 11

## About

Founded in 2024 by Jacob Phillips and others, and based in the UK, Lombard Finance Ltd. operates as a provider of cryptocurrency financial software. In July 2024, Lombard Finance Ltd. raised USD 16 million in seed funding led by Polychain Capital, including HTX Ventures, BabylonChain, Inc., dao5, Foresight Ventures, Mirana Ventures, Mantle Ecosystem Fund, Nomad Capital, and Franklin Templeton.

The company provides its primary product, Liquid Bitcoin (LBTC), which is a yield-bearing, cross-chain asset that is 1:1 backed by Bitcoin (BTC). The firm’s LBTC facilitates the staking of bitcoin through their liquid (re)staking system. LBTC’s key advantage is its ability to move across different blockchains, which allows users to utilize LBTC in numerous DeFi protocols, including automated market makers (AMMs), lending platforms, and perpetual exchanges. The company integrates with Babylon and other decentralized security markets, like EigenLayer. In addition, the firm collaborates with ecosystem partners such as ByBit, OKX, Bitget, and Ethereum, ensuring security for their users.

The organization plans to use the July 2024 funding to support the further development of its service features and offerings.

## Funding rounds

- Seed, Jul 2, 2024, $16M — Foresight Ventures, Franklin Templeton, Polychain Capital, Robot Ventures, Mirana Ventures, BabylonChain, Inc., dao5, OKX Ventures, Nomad Capital, HTX Ventures, Mantle Ecosystem Fund

## Investors

- Foresight Ventures (https://capitalatlas.ai/funds/foresight-ventures) — Seed
- Franklin Templeton (https://capitalatlas.ai/funds/franklin-templeton) — Seed
- Polychain Capital (https://capitalatlas.ai/funds/polychain-capital) — Seed
- Robot Ventures (https://capitalatlas.ai/funds/robot-ventures) — Seed
- Mirana Ventures (https://capitalatlas.ai/funds/mirana-ventures) — Seed
- BabylonChain, Inc. — Seed
- dao5 (https://capitalatlas.ai/funds/dao5) — Seed
- OKX Ventures (https://capitalatlas.ai/funds/okx-ventures) — Seed
- Nomad Capital — Seed
- HTX Ventures (https://capitalatlas.ai/funds/htx-ventures) — Seed
- Mantle Ecosystem Fund (https://capitalatlas.ai/funds/mantle-ecosystem-fund) — Seed