Ondo Finance is building a decentralized investment bank that connects stakeholders in the emerging DeFi ecosystem, including decentralized autonomous organizations (DAOs), institutions, and retail investors. Its first offering was a novel primitive for decentralized structured products that offer a choice between downside protection and enhanced returns. The company later expanded to Liquidity-as-a-Service (LaaS), matching DAOs with underwriters to provide on-chain liquidity for native tokens. Ondo has partnered with more than ten DAOs, including Terra, Frax, and Fei, and has seen more than $200 million in liquidity deposited into its protocol. Led by founder and CEO Nathan Allman, the company plans to use the new funding to build out its team and launch new products, including a multi-chain expansion. With rapid organic community growth and product adoption, Ondo is preparing to decentralize governance via the upcoming ONDO token and related DAO. Ondo Finance operates a DeFi platform that introduces pooled liquidity with multiple investment classes, giving users a choice between downside protection and higher returns. The company launched its first Vaults in late July with a cap on invested assets as a security precaution and has since launched four more Vaults with an increased $10M cap. Those Vaults include offerings such as 10% fixed APY on USD stablecoins and 50% fixed APY on ETH. Prior to launch, Ondo completed security audits from Quantstamp, Peckshield, and Certik. Founded by Nathan Allman and Pinku Surana, both formerly of Goldman Sachs, the team also includes alumni from Facebook, Microsoft, Symbiont, BadgerDAO, private equity funds, hedge funds, and other venture-backed startups. The company intends to use the funding to accelerate DeFi adoption among mainstream investors by enabling the granular exchange of risk.

Total raised

$24M

Funding rounds

2

Latest round

Series A

Latest activity

May 2022