Fortunafi Completes Strategic Funding Round, Targets RWA Product Expansion and Stablecoin Protocol

We are thrilled to announce today that Fortunafi has completed a strategic funding round, securing $3.16M. This latest round brings our total funding to $9.5M, following a separate seed funding round completed in October 2021. Both rounds were structured as equity with token warrants, and the latest infusion of capital brings Fortunafi's valuation to approximately $50M.

This funding milestone represents a significant step in expanding our current Real World Asset (RWA) product offering, enhancing the utility of tokenized assets, and growing our distribution channels. Furthermore, the round also comes on the heels of Fortunafi launching its Tokenized Asset Protocol (TAP) app in December 2023; TAP is the first global cross-chain tokenization protocol, and it has set the stage for significant advancements in the tokenization space. Currently, both U.S. and non-U.S. users can access tokenized treasury bills on the Arbitrum, Blast, and Canto blockchains.

Additionally, the latest round marks a key step in the forthcoming launch of our new stablecoin protocol, Reservoir. The Reservoir stablecoin protocol, set to launch in June 2024, will operate as a separate entity from Fortunafi. Reservoir will provide users with various yield-bearing products backed by digital and RWA. By offering highly attractive yields, Reservoir aims to deliver the benefits of decentralized finance (DeFi) across multiple decentralized protocols, accessible with just a wallet and an internet connection. The native stablecoin, rUSD, will be usable across DeFi platforms and backed by a diversified digital and RWA balance sheet.

Our decision to expand our RWA product offering is driven by growing demand and interest in tokenized assets on the blockchain. Industry estimates suggest that the RWA sector could represent a market opportunity of $5T to $30T by 2030. Similarly, our desire to dive headfirst into the stablecoin sector can be explained by, among other things, a recent report by Bernstein estimating the stablecoin market to scale from $170B to nearly $3T over the next 5 years.

We extend our deepest appreciation to our investors for their continued support and confidence in our vision. This funding will allow us to accelerate our mission of bringing RWA to the masses by bridging TradFi to DeFi via a cross-chain tokenization infrastructure for private and public assets.

• Strategic Round Participants: Shima Capital, Manifold, Carl Hua, Evanss6, Eric Dauphin, Scott Lewis, and Will Price
  

• Seed Round Participants: 166 Second, Vine Ventures, Cross River, Claure Group, Space Whale Capital, Ari Litan, Austin Green, Brian McGrath, Cobie, Jason Pate, Michael Weisz, Marc Bhargava, Perry Rahbar and Trevor McFedries.

For more information about Fortunafi and our upcoming releases, please feel free to reach us at [email protected], visit us at https://fortunafi.com/, and/or follow us on Twitter.

P.S. check out our coverage on The Block and Binance!

All The Best,
Fortunafi

About Fortunafi

Fortunafi is a leading onchain financial institution spearheading advancements in the Real World Assets (RWA) sector. Through key partnerships and integrations, Fortunafi delivers the tokenization of RWAs onchain to bring DeFi-structured yield products, alternative lending, and all-in-one liquidity solutions to financial institutions, startups, and investors. In contrast to traditional capital markets and securitizations, Fortunafi eliminates rent-seeking capital market participants and verticalizes the entire process from asset creation to the final onchain tokenization.

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