NearPad, a San Francisco, CA-based DeFi startup, closed its $2.5m seed funding round.
Backers included NGC, NEAR Foundation, OWC, Ellipti, LD Capital, Flow Ventures, SuperNova Fund, Genblock Capital, Arkn and several other parties.
The company intends to use the funds for the development of its DAO-led DeFi hub on Aurora. The raised fund will be used to build out the features on its roadmap, expand the development team to ship faster and optimise products better, incubate, and market rather than leaning on the public raise and/or treasury. The public raise and the treasury will be governed by the community.
NearPad is a launchpad, DEX Aggregator, and Yield Aggregator for communities and developers to access open finance tools for crowdfunding, asset management, and yield optimisation. The platform will also be the first DAO-led protocol on Aurora by giving its community complete control over how treasury and public funds are utilised for the ecosystem.