By Zoran Temelkov July, 2022
PennyWorks, a high-yield DeFi based investing platform, lands $2 million in pre-seed funding round. The round was led by Hi2 Global with participation from Zachary Harl, Putra Manggala and Leo Mizuhara, former executives coming from Bank of America, Shopify, and DRW Holdings, LLC.
The pre-seed funds will be used for PennyWorks to market its platform, finance its development, marketing and to support other company’s operations.
PennyWorks, based in Hoboken, NJ was founded in 2021 and launched in April. The platform offers innovative investment alternatives to traditional financial products through the utilization of digital assets strategies.
It’s DeFi platform offers investment opportunities that could earn investors up to 8% APY which is significantly above the current average rate earned on savings. The interest on users’ balances is compounded daily.
