Former employees from Revolut’s crypto operations have raised $3.5 million in a round led by Index Ventures to build a consumer-friendly crypto investment app.
The news follows in the footsteps of other startup raises in the web3 sector from former Revolut employees. CoinFund and FJ Labs also participated in the round, which closed in January and valued the startup at $17.5 million. Since then, founders Ayelen Denovitzer and Shailendra Sason — who met while working on Revolut's crypto operations — have been busy building Solvo, which aims to simplify crypto investment tools.
One of these areas which Denovitzer believes has not yet been brought to mainstream attention is staking. Solvo's Vault product allows users to earn a yield of up to 8% on coins, such as SOL and ADA, via staking. Its"Bundles" product allows users to invest in several tokens related to decentralized finance, the metaverse and gaming.
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