Arch, a DeFi lending platform, announced the raising of USD 2.75 million in funding from Tribe Capital, Castle Island Ventures, Picus Capital, and Global Founders Capital among others. 

The funding from the round (which closed in the second half of 2022) will be used to expand Arch’s team and financial partnerships and fund the process of adding further regulatory approvals. Additionally, the company stated that it will also be lending out some of the funds. 

Analyst QuickTake: Despite the market turmoil, DeFi lending has seen growing investor interest in the last month with a number of startups raising funding. These include Exactly Protocol , which raised USD 2 million in funding a few weeks ago, and Finterest , which raised USD 1.5 million in funding in December of last year. Arch aims to differentiate itself by enabling investors to borrow US dollars directly instead of only cryptocurrencies like many of its peers.