colend

ChainCatcher news, according to Bloomberg, Turkish fintech startup Colendi has raised $65 million in its latest Series B funding round, reaching a valuation of $700 million. This round was led by Citi Ventures, the venture capital arm of Citigroup, with other investors including Migros Ticaret AS, Sepil Ventures, Re-Pie Asset Management, Finberg, and Hedef Holding. Colendi co-founder and CEO Bulent Tekmen stated that existing investors also participated in this round of funding.It is reported that Turkish banking regulators have approved Colendi's application to establish a digital bank in 2023. Tekmen mentioned that the oversubscribed Series B funding round provides the necessary capital to establish Colendi Bank. The company plans to dual-list in Istanbul and London and expects to be ready for an initial public offering (IPO) by 2026. Headquartered in Istanbul, Colendi launched a new funding round in March, aiming to raise over $150 million by the end of this year. Tekmen anticipates that after this funding round, Colendi's valuation will reach $1 billion, thus becoming a "unicorn" company.Currently, Colendi has 17 million users in Turkey, with plans to expand into populous emerging markets such as Pakistan and Indonesia in the future, ultimately aiming for a target of 1 billion users. This funding will drive Colendi's mission to become a major digital banking entity in Europe, the Middle East and Africa (EMEA), the Gulf Cooperation Council (GCC), and Turkic countries.

ChainCatcher news, Core DAO announces that a brand new lending protocol, Colend, will be launched on Core Chain. Colend will fill the gap in the DeFi market, providing users with a secure, efficient, and user-friendly lending experience.It is reported that Colend's main features are:Decentralized and secure: Built on the secure and scalable foundation of Core Chain, ensuring all transactions are transparent and tamper-proof.Liquidity pools: Users can participate in multiple liquidity pools, dynamically adjusting interest rates based on supply and demand to ensure a fair and efficient market.Collateral flexibility: Colend introduces a flexible collateral system, ensuring users have multiple options to leverage their holdings.Seamless user experience: An intuitive interface and user-centered design make decentralized lending simple and easy to use, providing convenience for everyone.

ChainCatcher news, DeFi startup VycoLend announced the completion of a $500,000 seed round financing, led by Aura Ventures, with participation from Lumina Capital, Cardinia Ventures, and a number of angel investors from the Web3 and Web2 sectors.The new funds will be used to accelerate product development, expand the team, and scale operations. The decentralized non-custodial lending protocol VycoLend is built specifically for Layer 2 networks, aiming to establish a high-speed market for more traditional crypto asset lending services, where users can participate in independent lending pools as either lenders or borrowers. (source link)