UK-based Fintech Gro Raises $7.1 Million from Northzone VC

Former Spotify and Revolut executive Hannes Graah’s fintech startup Gro recently raised around $ 7.1 million in the latest seed funding. With this money, Gro is set to make decentralized finance (DeFi) user-friendly and more accessible. 

The latest seed funding round was spearheaded by decentralized finance venture capitalists Framework Ventures and Galaxy Digital. Besides, the list of angel investors included Aave, Synthetix, and Compound. 

SEE ALSO: P2P Lending Company Zopa Raises £20 Million Funding from Existing Investors

Gro’s roadmap

Gro largely aims to simplify the overall DeFi experience for users by developing products called autonomous programs and protocols. 

The latest funding will be utilized to further Gro’s mission and scale its two existing products that provide legacy and decentralized finance components. 

Gro revealed that it is likely to make its first product available to the public around April 2021. Besides adding colour to its product portfolio, Gro is also on course to expand its current team of 10 in 2021. 

At present, Gro’s team encompasses tech and finance professionals from stellar firms such as Spotify, Goldman Sachs, JP Morgan, and Revolut to name a few. 

Wendy Xiao Schadeck, Partner, Northzone said that Hannes has rich experience and understanding of the complete financial applications ecosystem and also has unmatched knowledge of the crypto-native community. Hannes is an enterprising personality who continues to attract top industry talent as investors and advisors. 

Increasing DeFi’s accessibility

Decentralized finance is transforming conventional finance services such as trading, lending, and insurance into transparent and open protocols. 

The advent of protocols enables seamless integration and swift innovation which boost efficiencies and eventually provide more value to the customers. 

In the current scenario, as DeFi requires abundant technical expertise, firms such as Gro are gradually gaining ground. Gro has set out on a clear mission of enabling people to create and share the wealth by integrating the best of legacy and decentralized finance. 

More about Gro

Gro was founded in 2020 by Hannes Graah, former VP at Spotify and Revolut. Gro has a simple mission and that is to empower customers with the tools they need to understand wealth via legacy and decentralized finance. 

Gro is set to reshape the world of finance in the upcoming years with its simple yet robust DeFi products. 

Image Source: Business photo created by jcomp – www.freepik.com

Karandeep V

Karandeep was born in Pune, Maharashtra, an upcoming metropolitan city in the Western region of India. While most members of his family are engineers, he had different ideas. He was more inclined toward exploring the non-technical aspects of a business, which is why he studied Bachelors of Business Administration at Symbiosis International University, Pune.  Having said that, his love for new and upcoming technologies remained intact, which is why he has written extensively about technology throughout his career. After a brief stint with a gaming company at the beginning of his career, he discovered that his love for writing was not temporary.  Being a tech geek, he always liked installing and playing around with new applications on his mobile devices and the home desktop. He was fascinated by how technology can simplify even the most mundane and complex tasks with just a few commands. He keeps a close eye on how businesses use different tools to streamline their operations to boost productivity and efficiency.  At ToolsMetric, he writes product reviews that cover the main features and specifications of different enterprise applications. The sheer amount of innovation and hard work that goes into building these tech solutions is one of the reasons why Karandeep loves reviewing these tools. Besides product reviews, he also writes interesting news articles and blogs that track the latest developments in the tech industry.  When he is not writing, you can find him rooted to his seat playing video games, watching movies, or supporting his favorite football team. Since his childhood, he has always loved to travel and explore new places. Traveling is a major part of his life due to a myriad of reasons such as experiencing new cultures, food, and traditions. His other hobbies include playing football, cooking, and running.  You can find him on LinkedIn here.

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