Devenez Insider

Morpho raises $50 million from over 50 funds

Thursday, August 1, 2024

This deal with the world's biggest players (Ribbit Capital, a16z, Coinbase Ventures) will enable the French lending protocol to accelerate its growth.

Morpho's crazy growth continues. Two years after an initial fundraising round of $18 million (historic for a pre-seed), the lending protocol has just secured a $50 million financing round.

"We've been ready for a few months to take DeFi to the general public, but we still lacked the institutional partners to make it happen. We now have them", explained Paul Frambot on social networks, who is one of the co-founders and the head of Morpho Labs, the structure that manages the protocol.

A total of more than fifty funds have invested in Morpho's tokens - there is no equity. The main investor is the American company Ribbit Capital, along with other American giants such as a16z, Coinbase Ventures and Variant. However, there are also European funds such as Leadblock Partners.

According to our information, the protocol is valued at more than $750 million.

Early this year, Morpho launched Morpho Blue a new version of its protocol (find the exclusive interview with Paul Frambot). In six months, Morpho Blue has attracted nearly $2 billion in deposits bringing it a step closer to industry leaders Aave, with whom competition is only set to increase.

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