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Solana-based Zebec Protocol closes $15M Series A round


23 Feb 2022

#Solana

Solana-based cash stream protocol Zebec announced Tuesday that it has raised $15 million in its Series A funding round led by Solana Ventures and Distributed Global. Founded in 2021, Zebec Protocol claims to be the first programmable cash flow protocol on Solana. It offers continuous, real-time settlement of financial transactions such as payroll, investments, and more. With the latest funding, the company plans to expand its user base and scale its protocol.

Solana Ventures and Distributed Global, several venture capitalists, and companies participated in the round, including Lightspeed Venture Partners, Circle, Coinbase, Alameda Research, OKX Blockdream Ventures, DST Global Partners, Road Ventures, and more.

Sam Thapaliya, founder of Zebec, said in the announcement: “Despite all of the promise of decentralized finance and Web3, most organizations are still relying on Web2-style payments or, at best, one time wallet transfers. We’ve built a DeFi native solution for instant, seamless and continuous money streams and we think Zebec will be the future model for on-chain payments.”

The latest funding round comes a few months after Zebec closed its $6 million seed round led by Republic Capital.


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