Seed round led by CoinFund and Cadenza Ventures will enable Moon Mortgage to develop and bring key products to market
Miami, Florida—October 11, 2022—Cryptocurrency lending platform, Moon Mortgage, has raised a $3.5 million seed round as it looks to bring two key products to market, including a mortgage lending product that will allow investors to collateralize crypto holdings for real estate investment. The round was led by CoinFund and Cadenza Ventures, which both invested $1.65 million in the business.
Moon Mortgage’s CryptoMortgage product will enable digital asset investors to materialize their crypto holdings in real estate. Moon Mortgage does this by taking the investor’s digital assets as collateral and then providing 100% of the financing for owner-occupied and investment properties.
Moon Mortgage’s CryptoMortgage will be launching soon for house buyers in Texas, Florida, and Colorado, and will be open to investors in most States across the U.S. for investment properties. Moon Mortgage works with an industry leading custodian to offer our borrowers peace of mind.
Aaron Nevin, Co-founder and CEO of Moon Mortgage, said: “Many investors have been able to make impressive gains by investing in crypto — but you still can’t use it to buy a house., The convergence of TradFi and crypto is still a long way off, so we want to bridge that gap now and allow investors to not just be able to use their crypto to invest in real world assets, but to also be able to continue benefiting from their crypto investments in the long term. Our $3.5 million investment — an impressive feat given the bearish outlook still given on crypto — will go a long way to making that vision a reality, as we look to launch our CryptoMortgage product this year.”
Moon Mortgage was founded in 2022 by Aaron Nevin and Tristan Marino. The founders are advocates of crypto, but are frustrated at the lack of real-world applications and use cases for digital assets — especially when it comes to lending. The team believed that there is a better way to leverage crypto assets to purchase physical investments, and especially in how crypto can be used as collateral to secure loans.
Austin Barack, Partner, Venture & Liquid Investments at CoinFund, said: “We are thrilled to partner with the team as they embark on their growth journey. Moon Mortgage is building the critical infrastructure to connect crypto to the real estate asset class and beyond. By offering 21st century financial solutions, Moon Mortgage is poised to drive a significant improvement in the home buying and lending experience.”
Moon Mortgage’s crypto assets are stored with Anchorage Digital, the first U.S. federally-chartered crypto bank, and all assets are stored with the highest possible protection standards.