City Protocol Secures $11 Million in Seed Funding
City Protocol, a company focused on developing open infrastructure for neofinance, announced on August 26, 2026, that it has raised $11 million in its seed funding round. The round, classified as Pre-Series A, saw participation from notable investors including Dragonfly, Jump Crypto, CMT Digital, Stratified Capital, Adaverse, and Mirana.
Funding Details
The seed funding round did not have a lead investor but was supported by a diverse group of backers. This financial boost is set to assist City Protocol in further developing its platform, which aims to enhance financial infrastructure through open-source solutions, thereby facilitating innovation and efficiency in the sector.
Company Vision
Founded by Jerome Wong, City Protocol is committed to creating robust infrastructure for the evolving neofinance landscape. The company's approach revolves around leveraging open-source technology to enable better financial services and products, catering to the growing demands of the digital economy.
Utilization of Funds
While specific plans for the use of the funds were not disclosed, it is expected that the capital will be directed towards scaling operations, enhancing technological capabilities, and possibly expanding the team to support further development and implementation of their infrastructure solutions.
Investor Support
The backing from investors such as Dragonfly and Jump Crypto highlights a growing interest in platforms that offer innovative solutions to financial infrastructure challenges. These investors are known for their involvement in technology-driven ventures, indicating confidence in City Protocol’s potential to impact the industry positively.
City Protocol's recent funding round underscores its commitment to advancing the neofinance sector through open and efficient infrastructure solutions.