Loda.fi provides instant loans backed by cryptocurrency collateral, allowing users to access cash without selling their digital assets. This service addresses the need for liquidity in the crypto market by offering competitive interest rates starting at 10%, while ensuring the security of funds through bank-grade vaults and advanced cryptographic measures.
Funding
$18M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many cryptocurrency holders need access to fiat currency but do not want to sell their digital assets and incur potential capital gains taxes. Existing crypto lending platforms may not be readily accessible or offer competitive rates for Australian users seeking loans in AUD.
Solution
Loda.fi provides instant loans in Australian dollars (AUD) collateralized by a variety of cryptocurrencies, allowing users to access fiat without selling their digital assets. Users deposit crypto assets into bank-grade vaults and can then access an instant credit line. Interest is paid at the end of the loan term or as the user goes. Loda aims to provide a transparent and efficient lending experience, enabling users to leverage their crypto holdings for immediate financial needs.
Target Audience
Loda.fi primarily targets cryptocurrency holders in Australia who need access to AUD loans without selling their digital assets.
Features
- Loans collateralized by a range of cryptocurrencies including BTC, ETH, AVAX, DAI, COMP, UNI, LINK, USDC, and USDT
- Loan terms as short as one month
- Interest rates starting at 10%
- Funds secured in bank-grade Class III vaults with ISO 27001:2013 compliance
- AML & KYC checks to ensure regulatory compliance
- Multi-signature wallets and MPC cryptography for asset security