Morpho, a lending platform, completes $50 million private token financing, led by Ribbit Capital

BlockBeats reported that on August 1, DeFi lending platform Morpho completed a $50 million financing round led by Ribbit Capital, with participation from Hack VC, IOSG, Rockaway, L1D, Mirana, Cherry, Semantic, Fenbushi, Leadblock Bitpanda and Robot Ventures. Valuation has not been disclosed.

The funds were raised through a private token sale. Other heavyweights participating in the private token sale include a16z crypto, Coinbase Ventures, Variant, Pantera, Brevan Howard, BlockTower and Kraken Ventures.

Ribbit Capital is an early investor in fintech companies such as Robinhood, Revolut and Coinbase.

Morpho previously raised $18 million in 2022 with the goal of merging the relatively scarce world of decentralized finance (DeFi) with the internet’s base protocol layer.