Slope Finance, a decentralised exchange and wallet based on the Solana network, has raised $8 million (£6m) in Series A funding.
The round was led by Solana Ventures and Jump Crypto, with further support from Circle, Huobi, Sequoia China, Genesis Trading, CMS Holdings, Spark Digital, and more.
Following on from a successful seed round in August last year, the start-up has raised $10.3 million (£7.8m) overall.
With cross-platform functionality, the wallet serves as a gateway between various exchanges and smart contracts.
Slope Finance also features a decentralised exchange and an NFT marketplace and minting service.
The wallet has more than one million unique downloads and 850,000 active monthly users, all of which come from its mobile app.
Slope intends to keep its focus on mobile due to the large portion of cryptocurrency users that are mobile-first. A Coinbase Q1 report found that 82% of its users trade exclusively through its mobile app.
Matthew Beck, partner at Solana Ventures, said of the investment: “We are excited to support Slope’s mission to provide a seamless, cross-platform experience for users to engage with Solana’s decentralised finance, NFT, and gaming ecosystems.”
Slope plans to use the funds to expand its team in the United States and recruit more talent to set up new offices.
Looking to revamp your digital transformation strategy? Learn more about the in-person Digital Transformation Week North America taking place in Santa Clara, CA on 11-12 May and discover key strategies for making your digital efforts a success.
Explore other upcoming enterprise technology events and webinars powered by TechForge here.
