Ribbit Capital leads $50 million raise for decentralized lending developer Morpho
Quick Take
- The venture firm Ribbit Capital led a $50 million funding round for the decentralized lending developer Morpho.
- Pantera Capital invested in Morpho earlier this year, and Morpho raised additional $18 million in funding in 2022.
Morpho, a decentralized lending developer, raised $50 million in funding led by Ribbit Capital.
Other participants in the fundraise included a16z crypto, Coinbase Ventures, Variant, Pantera, Brevan Howard, BlockTower, Kraken Ventures, Hack VC, IOSG, Rockaway, L1D, Semantic, Mirana, Cherry, Fenbushi, LeadBlock Bitpanda Ventures, Robot Ventures and others, according to a Morpho release.
"When Morpho first launched 2 years ago, its primary product was Morpho Optimizer, an optimization layer on top of Aave and Compound that improved interest rates for users," wrote Morpho Co-Founder and CEO Paul Frambot in the release. "Since then, Morpho has evolved into independent financial infrastructure, inspired by the layered protocols of the early internet."
Pantera Capital invested in Morpho earlier this year. Morpho raised an additional $18 million in funding led by Andreessen Horowitz and Variant in 2022.
In October 2023, Morpho Labs launched Morpho Blue, a decentralized lending protocol that de-centers DAOs and opens up markets for risk management and specialized products. Since then, Morpho Blue has amassed $1.52 billion in total value locked (TVL) as of July 30.
Correction: Aug. 1, 19:45 UTC: The entity that raised funds was Morpho, not Morpho Labs, as previously reported. Also includes updated language regarding Pantera Capital's investment in Morpho.
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