P2P NFT marketplace Flowty raises $4.5m in seed capital

Peer-to-peer non-fungible token (NFT) lending marketplace Flowty has raised $4.5m (£3.3m) in a seed round led by venture capital funds Greenfield One and Lattice Capital.

Flowty is just like any other P2P lending marketplace, but loans are secured by NFTs. Flowty takes a fee from each loan that is funded, which can be denominated in Flow blockchain stablecoins.

The capital will allow Flowty to accelerate its growth and add-on more features to the platform in a shorter timeline.

Read more: P2P lending models being used for NFT-backed loans

“After conversations with a number of investors and fellow start-up founders over the last few months, our team concluded that the financial flexibility, resources, expertise, and experience that a strong investor base can bring to a young and growing company would put us in a much better position to offer our userbase the best product and platform possible,” the company said in a statement posted on Medium.

Flowty was launched in February by three co-founders, Michael Levy, Guillaume Huot and Austin Kline.

Since launch, the group has already introduced several new features including adding support for additional Flow-based tokens; introducing loan-to-value metrics to provide more information to lenders; and has listed additional NFTs.

Read more: Crypto-backed P2P lending platform raises $2.7m

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