Algofi is building a crypto-native bank powered by decentralized finance on the Algorand blockchain. The protocol enables users to lend cryptocurrency, earn interest on deposits, and borrow to facilitate trading activity. The company is also developing fiat rails to move value onto and off the Algorand network. Algofi raised $2.8M in seed funding and intends to use the proceeds to scale and grow transaction volume. Co‑founded by Owen Colegrove and John Clarke, Algofi is a 2021 graduate of Y Combinator.

Total raised

$3M

Funding rounds

1

Latest round

Seed

Latest activity

Dec 2021