JellyFi Closes $4.4 Million Seed Funding Round Led by Lemniscap

TokenInsight news that DeFi lending platform JellyFi has announced the closing of a $4.4 million seed funding round led by Lemniscap with participation from ParaFi Capital, DeFiance Capital, Divergence Ventures, and a number of angel investors. The funds will reportedly be used for R&D and hiring key personnel to support the growth of JellyFi, which is expected to go live in February 2021. JellyFi is a line of credit marketplace agreement that focuses on non-fully secured lending, where borrowers and lenders are matched in an aggregated fashion based on the most competitive rates in the market.