[Exactly Finance] – Exactly Finance raised a $3 million seed round led by KaszekThe project looks to bring fixed income to DeFi, one key money lego that could open the industry to connect with traditional finance and help DeFi go mainstream. The round was joined by other investors such as 6th Man Ventures, Baires DAO, 11–11 DG partners, Newtopia VC, NXTP Ventures, Sur Ventures and Latitud. Angel investors such as Esteban Ordano (Decentraland), JP Thieriot (Uphold), Ariel Barmat (The Graph), Matias Woloski (Auth0) and Marcos Galperin (MercadoLibre) also joined the round.

Exactly is building an open source, non-custodial protocol on Ethereum, that will bring fixed-income solutions for lenders and borrowers. While the short term focus is to bring fixed income solutions to DeFi, the team’s long term vision is to connect DeFi to the legacy financial world. By connecting the global credit market to DeFi, traditional players could benefit from a liquid and transparent ecosystem which would benefit consumers, companies and investors at global scale.

Gabriel Gruber, Co-Founder and CEO of Exactly explained:

“This funding round will help us continue to build a world class team. Today we are focused on creating a new type of fixed income protocol with the support of outstanding DeFi & VC investors and the overall Ethereum community. The next challenge would be even more demanding, as we want to connect DeFi with the legacy financial system. To succeed, we need to bring fixed rates, and a superb experience to the Alices and Bobs of the world. Currently we can add value to a few hundred thousand of DeFi users but the world has 8 billion people to serve, and we’re eager to tackle this massive opportunity.”

Mike Dudas, Partner at 6th Man Ventures said:

“We are delighted to support Gabriel, Lucas and the Exactly Finance team as they solve real world financial problems for everyday users. Their innovative platform allows people to borrow at reasonable, fixed rates for longer durations than existing DeFi protocols allow”.

By creating this simple product, which will be integrated with leading DeFi wallets and consumer interfaces, Exactly opens up straightforward borrowing and lending capabilities to a much broader group of people. Exactly is led by an incredible team with deep financial markets and smart contract / DeFi experience. I would encourage anyone looking to work on a product with the potential to touch many millions of everyday borrowers and lenders to reach out to the team to learn more.”

Hernan Kazah, Kaszek Co-Founder & managing partner added:

“We see a gigantic emerging opportunity in DeFi, which will change in the financial landscape in unimaginable ways in the years to come.We feel very lucky for being able to partner with such a great team, that has already shown excellent execution and vision in previous ventures, and in what we believe could be a transformational venture. This investment is part of our recently-raised $1-billion funds.”

About the team:

Exactly Co-Founders: Lucas Lain (CTO) and Gabriel Gruber (CEO)
  • Gabriel Gruber: Co-Founder and CEO at Exactly. Previously Co-Founder & CEO at Properati (sold to OLX Group in 2018). He worked at Tilton Capital and at the Central Bank of Argentina (BCRA). Gabriel studied Economics at UBA (cum laude).
  • Lucas Lain: Co-Founder and CTO at Exactly. Previously a Sr Software Engineer at Compass ($COMP) and at Squarespace ($SQSP). Co-founded and was CTO at WeHostels (acquired by Student Universe in 2014) and Confronte (acquired by Clarin in 2009). Lucas studied Software Engineering at UADE.
  • Pablo SabbatellaGrowth Lead at Exactly. Pablo is a DeFi researcher & investor. He previously founded Defy Education portal, and Tech CXOs community.

About the advisors:

  • Tech: Ariel Barmat — Head of Smart contracts at Edge & Node and former Smart contracts Lead at The Graph and at Decentraland.
  • Financial: Brian Prilick — Managing Director at CTF Capital & Co-Founder of Starkus Blockchain Ventures.
  • Legal: Cesar Levene — Managing partner at Levene Tax & Legal. Co-Founder at Myeling VC and at Starkus.

We are hiring DeFi wizards & builders

We are looking for shadowy solidity super coders who believe DeFi will shape the future of finance. We are fully remote and working to scale Exactly to become the biggest decentralized credit platform on earth. If you are passionate about DeFi and want to become part of this adventure, you can apply here.

What’s next for Exactly

As we develop Exactly V0.1, we’ll release more content and research around fixed income in DeFi. To learn more, visit our website, follow us on twitter, join our discord and our telegram.