DeFi Platform YIELD Raises .9M USD In Funding

DeFi Platform YIELD Raises $4.9M USD In Funding

Blockchain, Investing, News | December 10, 2020 By:

Decentralized finance platform YIELD has secured $4.9 million from BnkToTheFuture, Alphabit Fund, Digital Strategies, PALCapital, Yeoman’s Capital, and Chronos VC in a hybrid fund.

YIELD is a decentralized finance platform for users to invest in digital assets, smart contracts, protocols, and decentralized app. Its app and web platform enables users around the world to earn high returns from DeFi products without having to go through a lengthy, complex and often costly learning process. Operating under a banking license, YIELD offers an insured investment fund managed by a team with years of experience in FinTech and cybersecurity.

YIELD’s funding round with BnkToTheFuture, a global online equity investment platform for FinTech companies, surpassed its initial goal of $150,000 in 24 hours. The rolling fund raised a total of $297,000 in 17 days. By allowing anyone to invest a minimum of $1,000, users will also receive YLD tokens (approximately 6.5 tokens for every $1 invested). The token, when held on YIELD, will boost the user’s APY from 12% to 20%, and earn them up to 10% APY on YLD tokens as well.

“I believe that choosing BnkToTheFuture for our first funding round proves to the market that we are here to become a major player in the industry,” said Tim Frost, founder and CEO of YIELD. “Nobody would ever doubt the seriousness of their due diligence process, and we are proud of this new partnership.”

The company said that it made the decision to open up its equity fundraising because it aligns with its mission to make DeFi accessible to as wide an audience as possible.

“We were getting lots of requests from our investors to look at DeFi projects, but we were trying to find one that actually has a well-structured company behind it; this is how we came across YIELD,” said Simon Dixon, co-founder and CEO of BnkToTheFuture.

YIELD also announced its partnership with TrustSwap to aid the last phase of its presale on December 7, 2020 which was live for 12 hours on the TrustSwap Launchpad. YIELD raised $1.2 million from its token event with over 900 pledges. More than $3.8 million was pledged in the $1.2 million pre-sale, with over $1.7 million being pledged within the first 1.5 hours.