# Synonym Finance

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

- Industry: Financial Services
- Headquarters: Toronto, Canada
- Website: www.synonym.finance/
- Total disclosed funding: $1.5M
- Latest round: Seed (Jan 24, 2024)
- Investors on record: 4

## About

Based in Ontario, Canada, Synonym Labs Corp., doing business as Synonym Finance, provides a decentralized finance (DeFi) cross-chain money market platform for lending and trading. In January 2024, Synonym Finance raised USD 1.5 million in seed funding led by investor Borderless Capital, with participation from other investors Robot Ventures, Big Brain Holdings, AWVC, SerDAO, and Veris Ventures.

Synonym employs a universal cross-chain credit layer built on the Wormhole xChain Technology Stack, incorporating advanced technologies such as Circle's CCTP. The platform enables seamless lending and borrowing across multiple chains through a single, user-friendly interface. Synonym's liquidity model combines the strengths of multiple strategies, aligning the interests of lenders, borrowers, and protocol stakeholders to optimize liquidity outcomes.

The company plans to use the January 2024 funding to establish a highly flexible cross-chain lending protocol to address the fragmentation in the market.

## Funding rounds

- Seed, Jan 24, 2024, $1.5M — Borderless Capital, Robot Ventures, Big Brain Holdings, Veris Ventures

## Investors

- Borderless Capital (https://capitalatlas.ai/funds/borderless-capital) — Seed
- Robot Ventures (https://capitalatlas.ai/funds/robot-ventures) — Seed
- Big Brain Holdings (https://capitalatlas.ai/funds/big-brain-holdings) — Seed
- Veris Ventures (https://capitalatlas.ai/funds/veris-ventures) — Seed