Rigor, a Miami and Orlando, FL-based decentralized finance (DeFi) protocol for construction lending and payments, secured $3.5m in seed financing.
Backers included Agya Ventures, Bain Capital Ventures, Digital Currency Group, Flow Ventures, Koji Capital, and Third Prime.
The company intends to use the funds to industrialize capabilities, open source the software for developers, introduce ownership incentives, grow the team, and scale the protocol globally.
Led by Isaac Lidsky, co-founder and CEO, Rigor enables lenders to find and finance building projects and gain transparency into the flow of their digital dollars, all governed by smart contracts and secured on a blockchain. As construction tasks are completed and verified, Rigor automates payments for those tasks, paying the small businesses responsible for the work immediately and directly. When the home is sold, the lender is repaid a fixed-yield rate, with interest.
Rigor’s beta is live, with digital asset lenders and homebuilders building homes in Central Florida.