Oasis.app, a platform that enables DeFi users not only to borrow or increase their exposure to cryptocurrencies but also to earn on those assets, has raised $6 million in a Series A funding round led by Libertus Capital, CoinJournal learned from a press release.
Other participants in the funding round included Road Capital and several well-known angel investors from the DeFi space.
Funds to Be Used for Product Development and Team Growth
Oasis received $6 million in a mix of cash and cryptocurrency. This round follows an initial $5 million seed round led by UDHC Finance in June 2021, when Oasis was spun out as part of the Maker Foundation’s dissolution.
The Oasis team plans to allocate the new capital toward further product development, expanding the team, and strengthening the brand identity.
Libertus commented:
“We are excited to partner with the Oasis team as they continue building products and tools that allow DeFi users to deploy capital seamlessly and securely. The Oasis team has already developed the number one DeFi app and integrated with the Maker Protocol. With this funding, we expect their world-class smart contract and security expertise to be introduced across a broader DeFi ecosystem.”
Chris Bradbury, CEO of Oasis.app, added:
“It has been an incredible journey so far. We are proving our vision to become the most trusted place to deploy and manage capital in DeFi. This round enables Oasis.app to expand the features our community will demand next. As a team, we are humbled to work with such excellent investors who have already helped propel us forward through their experience in this space. This is a significant milestone for DeFi—users are not just recognizing its potential, they are finding the technology to access it. DeFi remains in its early stages, and we are excited to help drive adoption to the next phase.”
About Oasis.app
Oasis.app is a DeFi platform that lets users increase exposure to crypto, swap tokens, and borrow Dai against cryptocurrency. The platform’s multiplier feature exceeded $1 billion in trading volume within just six months of its launch.