Carapace funding, investors and company details

Carapace is an emerging Financial Services - Fintech - Lending startup from Ahmedabad, working in the space of Decentralized finance (DeFi) startup focused on building on-chain protection markets to reduce credit default risks in cryptocurrency lending.. Founded by Rohit Sabnis, Taisuke Mino.

Company: Carapace Infra & Formline Technologies Private Limited
Sector: Financial Services - Fintech - Lending
Location: Ahmedabad
Founders: Rohit Sabnis, Taisuke Mino
Total funding raised: ₹20.69 Cr

Company overview

Carapace is a decentralized finance (DeFi) startup founded in 2021, focused on building on-chain protection markets to reduce credit default risks in cryptocurrency lending. It provides a platform that connects buyers and sellers of credit default risk in crypto loans. This enables investors to earn returns by covering default risks, while borrowers and lenders benefit from enhanced security and reduced exposure to losses. Carapace’s model is designed to create a transparent, decentralized marketplace for credit protection, leveraging smart contracts to automate processes and ensure trustless transactions. This approach eliminates intermediaries and provides efficiency in managing loan risks. By offering on-chain credit default swaps, Carapace addresses one of the biggest challenges in crypto lending—high default risk—while opening new opportunities for yield generation.

Funding rounds

Latest round (Pre-Seed): $ 2.50 Mn (₹20.69 Cr.), 2022-10-21. Investors: NFX, Titan Capital