Arch Lending, a NYC-based crypto-backed loan provider, raised $75M in funding.
The round was led by Morgan Creek Digital and Castle Island Ventures with participation from Galaxy Ventures, BitGo Ventures, and others.
The company intends to use the funds to expand operations and its development efforts.
Led by Himanshu Sahay and Dhruv Patel, Arch Lending is a provider of crypto-backed loans, combining security, concierge customer service, and automation to serve individuals and institutions. Its flagship product is over-collateralized crypto-backed loans, stored in qualified custody, and without rehypothecation of collateral. The automated platform provides instant funding in US dollars or stablecoins. Additionally, Arch Lending offers qualified crypto custody to individuals as a standalone offering through a partnership with BitGo, featuring bank-grade security and insurance, and allows trading and staking from cold custody.
FinSMEs
22/08/2024