# Strip Finance

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

- Industry: Financial Services
- Headquarters: Hyderabad, India
- Website: http://www.strip.finance
- Total disclosed funding: $0.5M
- Latest round: Seed (Sep 30, 2021)
- Investors on record: 8

## About

Strip Finance operates a decentralized peer-to-peer marketplace for NFT collateralization, facilitating loans against non-fungible tokens to enhance liquidity in the NFT ecosystem.Founded in 2021 and headquartered in Hyderabad, India, Strip Finance offers a platform for NFT collateralization. The company completed its first deal on September 30, 2021, and secured INR 35.00 mn in Seed funding from multiple investors, including Indirection Level SRL and J10M Capital. The founder, Yash Jejani, has previously engaged in ventures related to blockchain technology.Strip Finance specializes in providing a decentralized peer-to-peer marketplace focused on NFT collateralization, enabling users to leverage their non-fungible tokens as collateral for loans. This primary offering allows NFT collectors to borrow against their assets at fair interest rates, addressing liquidity challenges in the growing NFT market. The platform encourages participation from liquidity providers through options such as direct bidding or pooling, enhancing NFTs' utility beyond mere ownership. The company targets a global client base of NFT enthusiasts, collectors, and investors, especially in regions like North America, Europe, and parts of Asia, aiming to create secondary markets for NFTs to unlock capital from digital assets while maintaining ownership.The revenue model of Strip Finance revolves around transaction fees incurred during the lending and borrowing processes facilitated on its platform. When users borrow against an NFT, the borrower provides collateral in the form of an NFT, appraised to establish its market value. The company charges a transaction fee based on the loan amount and agreed-upon interest rates. Additionally, Strip Finance may generate revenue through partnerships with various NFT marketplaces, where asset prices for collateralized NFTs are sourced. This diverse approach allows the firm to engage in both B2B and direct-to-consumer transactions, solidifying its role in the NFT and DeFi space.In September 2021, Strip Finance raised INR 35.00 mn in Seed funding with plans to build a collateralization platform for NFTs. The company aims to expand its product offerings, exploring new functionalities and services in the NFT space. Strip Finance is also targeting expansion into new markets, particularly focusing on regions with burgeoning blockchain activities, aiming for increased presence by 2023. The recent funding will be instrumental in supporting these initiatives, enhancing the platform's capabilities and reach.

## Funding rounds

- Seed, Sep 30, 2021, $0.5M — Lancer Capital, Shima Capital, Old Fashion Research, Nothing Research, Tenzor Capital, J10M Capital, Indirection Level SRL, MEXC Global Ltd.

## Investors

- Lancer Capital (https://capitalatlas.ai/funds/lancer-capital) — Seed
- Shima Capital (https://capitalatlas.ai/funds/shima-capital) — Seed
- Old Fashion Research (https://capitalatlas.ai/funds/old-fashion-research) — Seed
- Nothing Research — Seed
- Tenzor Capital (https://capitalatlas.ai/funds/tenzor-capital) — Seed
- J10M Capital — Seed
- Indirection Level SRL — Seed
- MEXC Global Ltd. — Seed