Concordia closes a $4 million seed round

Funding News

Concordia has recently closed a successful $4 million seed round, attracting significant investments from Tribe Capital, Kraken Ventures and Dubai based VC Cypher Capital. This financing round also garnered support from esteemed investors, including Saison Capital, and several other funds and strategic angels. Notably, Concordia was among the top three projects in Aptos’ inaugural hackathon, resulting in an investment from Aptos Labs.

Tribe Capital’s Managing Partner, Boris Revsin, stated, “I’ve known the team behind Concordia for quite some time, and I am confident they have the grit, technical skills, and go-to-market understanding to make Concordia a market leader in DeFi.”

Laurens De Poorter, Partner at Kraken Ventures, said, “The fragmentation of liquidity across an increasing number of blockchains is a known core issue for those that believe in a multi-chain future. Solving it requires not only superior technology but also best-in-class business development and a deep experience in risk management & compliance. We believe Concordia’s founding team is one of those rare teams that makes all stars align to have a real lasting impact on the overall crypto industry. We could not be more excited to partner up with them!”

Concordia’s vision is to create an interconnected, permissionless, and optimized DeFi ecosystem that promotes accessibility, affordability, and developer-friendly environments, ultimately unlocking the true transformative potential of DeFi.

Uri Ferruccio, CEO of Concordia, highlights the company’s mission, stating, “Concordia is solving the value convertibility problem for digital assets. There are many different digital assets and distributed ledgers. This has pros and cons. You can create a micro-economy tailored for the fans of a specific company, for example, but value also gets trapped in a multitude of different pockets. Concordia’s unique combination of interoperability technology and institutional-grade risk and collateral management creates a better and safer solution for cross-chain value transfer.”

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