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Morpho Labs Raises $50 Million in Funding Led by Ribbit Capital for DeFi Lending

Aug 1, 2024, 02:42 PM

Morpho Labs, a decentralized finance (DeFi) lending platform, has successfully raised $50 million in a funding round led by Ribbit Capital. The funding round also saw participation from notable investors including a16z, Coinbase, Variant Fund, Pantera Capital, BHDigitalAssets, BlockTower, and over 50 other strategic partners. This significant investment aims to further enhance Morpho's decentralization efforts and support its mission to make financial infrastructure a public good. The team previously raised approximately $20 million with leading investors such as a16z, Variant, Nascent, and Semantic. Paul Frambot, a representative from Morpho Labs, emphasized the importance of bridging the gap between DeFi and the traditional fintech world. The announcement was covered by CoinDesk.