According to TechFlow, Qiro Finance, a DeFi credit service company headquartered in Singapore, announced the completion of a US$1.2 million Pre-Seed round of financing, led by Alliance, with participation from Druid Ventures, Escape Velocity (EV3), Trident Digital and CMT Digital. The specific valuation information has not been disclosed yet.
Qiro Finance aims to address the huge credit gap prevalent in regions such as Southeast Asia by leveraging blockchain technology and a stablecoin framework. In addition to the funding, Qiro Finance also received a 100,000 MATIC grant from Polygon and a $50,000 development grant from the Aptos Foundation.