Huma, a San Francisco, CA-based income-backed DeFi protocol, closed an $8.3m seed funding round.
The round was led by Race Capital and Distributed Global with participation from ParaFi Capital, Circle Ventures, Folius Ventures, Robot Ventures and more.
The company, which is launching an on-chain factoring market, plans to use the funds to continue developing the platform and expanding its reach into new markets.
Founded by Erbil Karaman, Richard Liu, Ji Peng and Lei Du, Huma is an income-backed DeFi lending protocol for people and businesses around the world. It is building the infrastructure components that enable income-backed decentralized financial services. Huma’s initial launch partners include global financial technology firm Circle, and blockchain payment networks Request Network and Superfluid that are enabling borrowing against invoices and users’ incomes.