Decentralized finance (DeFi) startup Qiro Finance, headed by Alliance, has raised $1.2 million in its pre-seed round for the new business.
The money raised will go towards growing and developing Qiro Finance. The focus will mostly be on product development and ecosystem expansion in order to get ready for the upcoming mainnet launch later this year.
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Additionally, Qiro Finance secured a $50,000 development grant from the Aptos Foundation and a $100,000 MATIC grant from Polygon through the “Polygon’s Village Build Ideas Programme.”
Using stablecoin rails and blockchain technology, Qiro Finance is developing a decentralized credit system to link NBFIs (developing market asset originators) with international investors.
A decentralized credit system that can support a variety of tokenized RWA-backed credit applications is being developed by Qiro. Credit underwriters, investors, and asset originators are brought together under one framework to accomplish this.
Imran Khan, Founder, Alliance, said: “Real World Assets (RWAs) are gaining traction, signalling a noteworthy shift as traditional firms pursue alternative financing avenues embedded in crypto. This trend not only broadens global financing options but also fosters enhanced accessibility.”
About Qiro
Founded in 2023 by Akshay Poshatwar and Nishikant Bahalkar, Qiro is an institutional private credit protocol with robust credit underwriting infrastructure. Qiro leverages DeFi rails with regulatory standings, connecting stablecoin investors to emerging market asset originators for higher net yield.
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