Ribbit Capital, a venture capital firm, spearheaded a $50 million funding round for Morpho Labs, a developer of decentralized lending.
Ribbit Capital led the $50 million funding round for Morpho Labs, a decentralized lending developer. As per a Morpho Labs release, the fundraise was also attended by a16z crypto, Coinbase Ventures, Variant, Pantera, Brevan Howard, BlockTower, Kraken Ventures, Hack VC, IOSG, Rockaway, L1D, Semantic, Mirana, Cherry, Fenbushi, LeadBlock Bitpanda Ventures, Robot Ventures, and other entities.
Paul Frambot, co-founder and chief executive officer of Morpho, said in a press release that the company’s principal product two years ago was Morpho Optimizer, an optimization layer that consumers could add to Aave and Compound to achieve higher interest rates. “Having taken its cue from the early internet’s layered protocols, Morpho has now developed into its own financial infrastructure.”
Earlier this year, Pantera Capital lead a previous funding round for Morpho, which was for an undisclosed sum. Andreessen Horowitz and Variant led an additional $18 million in funding for Morpho in 2022.
The most important events and analyses going in the digital asset environment at the start of the day. Morpho Labs introduced Morpho Blue in October 2023, a decentralized lending protocol that disrupts the centralization of DAOs and creates markets for specialized products and risk management. As of July 30, Morpho Blue has amassed $1.52 billion in total value locked (TVL).
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