("KR1" or the "Company")
Investment: Union Finance
KR1 is pleased to announce that the Company has invested a total of
Union Finance (“Union”) is a credit mutual built on Ethereum, which allows people and organisations to take out loans on the blockchain without the need for collateral, a credit score, or revealing personal information on a public ledger.
Jacob Shiach, Founder of Union Finance commented: “KR1 saw the opportunity in Union even before I did, and their early support was critical in getting this company rolling; I'm excited to build the future of credit with them."
Ethereum’s decentralised finance ‘DeFi’ ecosystem is presently relying on heavy over-collateralisation, which makes some projects capital inefficient for most personal or business credit use cases and limits the appeal for mainstream adoption. Unions’ unsecured lending protocol opens up this emerging financial system to a much larger set of use cases, for example micro-loans, credit lines within the Internet of Things and social lending.
KR1 was joined in the Union seed round by 1kx, CoinFund and a number of prominent Ethereum DeFi angel investors.
For further information please contact:
George McDonaugh +44 (0)16 2467 6716
Simon Nicol simon@KR1.io
Peterhouse Capital Limited (AQSE Corporate Adviser)
Mark Anwyl +44 (0)20 7469 0930
Angus Campbell pr@KR1.io
KR1 is a leading digital asset investment company supporting early-stage decentralised and open-source blockchain projects. Founded in 2016 and publicly traded in