Finterest is the first crypto lending protocol deployed on the Internet Computer (ICP) that enables native Bitcoin borrowing and lending through a bridgeless architecture. Its approach reduces reliance on cross-chain bridges to provide increased transparency, reliability and security. Founded in 2022 by Olliver Barr and Carl Sachs, the protocol is trustlessly operated on ICP, which the article notes can execute up to 11,500 transactions per second with 1-second finality. The company closed a $1.5 million seed round to fund team expansion and platform development ahead of a planned beta in January 2023 and an official launch shortly thereafter. Using the seed proceeds Finterest intends to build features including a multi-sig wallet and a data oracle solution called FinnyFeed, which went live in October 2022. Notable backers named in the round include Polychain Capital via the Beacon Fund and 9Yards Capital.

Total raised

$2M

Funding rounds

1

Latest round

Seed

Latest activity

Dec 2022