Morpho Secures $175 Million in Funding from Prominent Investors, Valued at Up to $2 Billion

Morpho, an onchain lending protocol, has secured $175 million in funding from prominent investors. The round was co-led by Paradigm, a16z crypto, and Ribbit Capital, with additional participants including Apollo Funds, Circle Ventures, VanEck, and Ledger Cathay.

This is Morpho's fourth institutional fundraise since 2021, with prior backers including a16z crypto, Ribbit, Coinbase Ventures, Variant, Pantera Capital, and Nascent. Fortune reported the round valued the protocol at up to $2 billion.

The capital will be used to deepen technical and commercial integrations, strengthen infrastructure for businesses building credit products, and accelerate growth.

Morpho has crossed $11 billion in deposits and is utilized by institutional clients including Bitwise, Galaxy, and Anchorage Digital, as well as exchanges like Coinbase, Kraken, and Binance. The protocol's cofounder, Paul Frambot, stated that Morpho aims to build an 'open credit network for the world', connecting those with excess capital to those who need financing.