Supermojo, a financing platform for non-fungible tokens (NFTs), introduced Thursday that it raised $6 million in seed funding.
The funding spherical was led by BH Digital, DRW Enterprise Capital, Intersection Progress Companions and Neuberger Berman, with further participation from Sfermion, Arca, Gemini, Everyrealm, Arrington Capital, BlockFi Ventures, Circle Ventures, Crossbeam Enterprise Companions, Draper, FJ Labs, FBG Capital, OP Crypto, Pink Beard Ventures and Ripple, in line with a launch shared with The Block.
Supermojo’s platform encompasses a purchase now pay later (BNLP) service for NFTs. BNPL a course of during which a consumer pays a portion for a product outright and pays the remaining in later installments, usually with curiosity.
“The NFT market must welcome new customers with a purpose to hold scaling. NFT marketplaces and storefronts have but to supply the cost strategies most individuals are accustomed to when shopping for on-line,” stated Supermojo CEO Amir Sarhangi within the assertion, including that BNLP is one acquainted cost methodology for many customers.
“Our workforce at Supermojo is dedicated to offering a extra seamless, intuitive, and accessible NFT buying, financing, and custody expertise for the subsequent wave of NFT customers, from checkout to resale,” Sarhangi stated.
BNLP turned standard via conventional finance areas through the corporate Klarna, however has crept into NFT financing as seen with the DeFi lender Teller not too long ago launching NFT BNLP options.
Supermojo was based by Sarhangi and Craig DeWitt, two former senior staff of distributed ledger startup Ripple.