Bitcoin lending platform Lava completes $10 million Series A funding, with participation from Founders Fund and Khosla Ventures

Dec 09, 2024 20:36:13

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ChainCatcher news, according to Fortune magazine, the Bitcoin lending platform Lava has completed a $10 million Series A funding round, with participation from Founders Fund and Khosla Ventures.

Lava's founder and CEO Shehzan Maredia stated that the platform allows users to borrow against Bitcoin as collateral, "Our slogan is save in Bitcoin, spend in dollars."

Lava plans to develop additional services, including the ability to pay and purchase Bitcoin, and does not intend to issue tokens (the Series A funding is an equity financing).

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