Tiiik has just completed a seed funding round raising $5.2m from high-profile leaders of the local fintech scene, along with global crypto VCs that include FinTech Collective, DACM, Global Founders Capital and Jump Capital. The company will offer a 10% per annum yield, accruing daily, and hopes to profit from earning an even higher yield supplying customer funds into crypto lending protocols.
“We want to build a Web3 digital wallet, powered by stablecoins. It’s a new innovation,” Tiiik founder and CEO Erez Rachamim says. “Our clients want a certain yield and are willing to take this risk to have it.”