The company disclosed a $17.5 million extension to its Series A financing, with participation from Qatar Investment Authority’s Peter Jurdjevic, DST Global’s Saurabh Gupta, and several fintech veterans.
The new round follows last year’s $10 million raise led by Founders Fund and Khosla Ventures, further cementing Lava’s reputation as a specialized player in crypto credit markets.
Alongside the funding news, Lava introduced a yield program for U.S. dollar holders. The system lends customer deposits to borrowers who post more than double their loan value in bitcoin, a safeguard meant to shield lenders if markets turn volatile.
CEO Shehzan Maredia said that this conservative model – focused entirely on BTC rather than a mix of volatile altcoins – distinguishes Lava from other crypto lending outfits.
By concentrating on the world’s largest cryptocurrency, Lava avoids risks tied to wrapped assets and weaker collateral pools that have historically undermined lending platforms. Maredia argued that bitcoin‑backed loans offer a more stable balance between risk and reward, with interest payments flowing back to dollar providers while the BTC collateral ensures protection.
The new yield feature builds on Lava’s core services, which already include dollar borrowing against bitcoin, no‑fee bitcoin purchases, and seamless off‑ramps to bank accounts. A global spend card with bitcoin cashback is also on the roadmap.
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