RociFi is building a Layer 1, permissionless, multi-chain credit economy to enable zero- and under-collateralized peer-to-peer lending for Web3 users. The protocol leverages on-chain data, machine learning, and decentralized identity to score borrower trustworthiness and facilitate loans. RociFi’s scoring process aims to let lenders price risk and lend according to borrowers’ on-chain credit profiles, including exploration of NFT-based identity. The company is currently running a testnet and anticipates a phased, full-scale mainnet launch by quarter two of this year as a fully decentralized, permissionless entity. RociFi closed a $2.7 million seed round in November 2021 and plans to use the funds to expand the RociFi Labs team, increase engineering headcount, and take the product to market. Management frames the protocol as a way for individuals to use their established DeFi presence to access capital outside traditional finance structures.

Total raised

$3M

Funding rounds

1

Latest round

Seed

Latest activity

Apr 2022