Resource funding raises $ 1.7 million to provide low-fee loans to Web 3 companies

Decentralized credit protocol, resource financing completed a $ 1.7 million funding round led by Future Perfect Ventures, NGC Ventures and ExNetwork to improve decentralized credit access for their Web 3 businesses. Other investors in the round include Davoa Capital, BlockRock Capital, the Moonwale Ventures and seed, Foem, Capital, Flori Ventures (in Deco-based ecosystem funds and Tokenomics).

The funding will be used to increase customer engagement through DApp resource funding and to develop decentralized credit lines for reputation-based small businesses. In a statement, the company decried the need to provide loans to these” real economy builders ” on a peer-to-peer platform without intermediaries.

Jalak Jobanputra of Future Perfect Ventures, a leading investor in source, said the latest funding was aimed at achieving common goals shared with source. Future Perfect Ventures was launched in 2014 with the aim of partnering with entrepreneurs, providing business advice and creating new business models with the aim of “creating a wider, fairer and sustainable economy.”

The source is expected to use the funding to provide a platform for much-needed lending to new companies and small businesses that lack traditional lending capabilities.

“A resource team with unique experience and skills embodies this mission at a time when it is more important than ever to support individuals and the local economy that we believe will lead to a global recovery,” he said.
Jobanputra said.

The resource is built on the Celo network and uses its fast and low-cost platform to enable any company to easily get loans from its peers. the platform automatically creates a new reputation system to evaluate lenders to select the best companies to extend their credit limits. The source uses a variety of data sources to build credit ratings by providing data on a range of factors, including FICO credit scores, bank statements, accounting reports.

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