Singapore, Feb. 25, 2022 — Slope Finance has announced the close of an $8-million Series A funding co-lead by Solana Ventures and Jump Capital.
Prominent venture capital firms and major exchanges include Sequoia China Investment Management, Genesis Global Trading, CMS Holdings, Spark Digital, Spartan Group, Fenbushi Capital, Mirana Ventures, Circle Ventures, Wave Financial Group, Huobi Global, OKX Blockdream Ventures, Gate.io and other critical entities.
This raise brings some of the industry’s highest-profile investors together as Slope Wallet gears up for a major push to further popularize decentralized finance (DeFi) and nonfungible tokens (NFT) in the Solana ecosystem.
The closure of the Series A round confirms Slope’s rapid growth since its launch in September 2021 and fuels further scaling of the business going forward. In addition to the Series A announcement, Slope Finance is announcing a major product milestone: As of January 2022, Slope Wallet has reached 1,000,000 downloads and 850,000 monthly active users on all platforms with its user-friendly, non-custodial, mobile-first service offering.
“Since its debut in the Solana Season Hackathon, Slope has experienced impressive growth across both established and emerging markets. We are excited to support Slope’s mission to provide a seamless, cross-platform experience for users to engage with Solana’s DeFi, NFT and gaming ecosystems,” said Matthew Beck, partner at Solana Ventures.
“Slope is building the mobile gateway for the Solana ecosystem that offers a comprehensive mobile-first experience to all DeFi and NFT primitives. We are excited to support Slope in its ambition to onboard millions of mainstream crypto users,” said Saurabh Sharma, partner of Jump Crypto.
Slope will continue to provide the best mobile wallet user experiences to the Solana user base. According to the founder of Slope, Leal Cheung, crypto applications should aim to meet and exceed the user- interface and -experience standards users have become accustomed to in established Web2 applications. This will be a major driver to lower entry barriers for newcomers and grow the community as a whole.
In 2022, Slope will increase its efforts toward the vision of becoming the gateway to Web3 by exploring new functional verticals in GameFi, SocialFi, and e-commerce on top of the Slope Wallet foundation. Slope’s success is built on the Solana ecosystem and the company will continue to support its growth through open access to Slope Wallet’s feature sets, a broad network of partnerships, and support and sponsorships for early-stage projects.
For the next few weeks, the Slope team is expected to lay out additional details on ongoing projects, partnerships and product developments, including an announcement on an exciting new mobile product.
Slope Wallet is the first cross-platform wallet built for Solana and is available on the App Store, Google Play and as a Chrome extension. It provides users with a complete user experience, including Solana Pay, DeFi engagement, visualized NFT management, an initial decentralized exchange-offering aggregator and token swaps.
Slope is governed by the Slope DAO and all community members who hold Slope tokens can participate in the project’s governance.