Lantern Finance Raises $1 Million In Seed Funding

Lantern Finance has announced the completion of a $1 million seed funding round to accelerate the growth of its next-generation crypto-backed lensing solutions. The company noted that the focus is in the US as it continues to serve US-based crypto investors.

Lantern offers the opportunity for users to borrow in line with the value of their digital assets and receive their funds in fiat directly from the bank. Lantern Finance says it’s filling an important market gap, which enables customers to have access to liquidity without selling their digital assets.

Lantern Finance Focuses On The Safety Of Clients’ assets

Apart from helping them to keep their digital assets, the solution also delivers regulatory compliance and simplicity to a complex process.

Co-founder of Lantern Finance, Jung Won Kim, commented on the latest funding round. He stated that the firm’s focus is on the safety of clients’ assets. The company is also improving on several aspects of its business, including an exceptional customer service experience.

Kim stated that BitGo crypto exchange has always been its custodian. The firm ensures that customers’ assets are secured and insured. The latest funding round will enable the firm to continue developing and growing its platform which makes crypto-based loans more accessible and safe.

The seed funding round had several participators, including Andover Ventures, Supermoon Ventures, Orange DAO, and several others.

Their participation and support show that Lantern is attracting top players in the industry It also shows that the platform is gaining their confidence in providing hitch-free access to both traditional and digital financial services.

Lantern Says IT Will Continue Expanding Clients’ Access To Cryptocurrency

The co-founder of Lantern France, Prince Jindal, commented on the funding round. “We’re incredibly grateful for the overwhelming participation from both institutional investors and angels,” he said.

Jindal added that the milestone has positioned the platform to quickly expand, scale, and continue to innovate on behalf of its customers. The company sees the importance of bridging crypto assets to mainstream services in a user-friendly and secure manner.  Lantern hopes to continue in its quest to expand the access of crypto assets to mainstream finance.

The firm comes into the industry with deep knowledge in digital assets, technology, and finance. The combination of these expertise will enable the firm to offer digital assets services across the mainstream finance sector. Lantern has serves several crypto investors over the years. It plans to expand its services and build on its core strengths in customer support, product, and security, while exploring new capabilities.