Bengaluru-based DeFi startup, PlutoPe, has announced that it has raised $500,000 in a pre-seed funding round. The company intends to use the new capital to accelerate its next phase of growth. It’ll be time to execute on its ambitious vision of becoming a global crypto-neobank.

Bengaluru-based PlutoPe, arguably in the best place in the country to capitalize on the booming interest in decentralized finance. This latest $500,000 infusion will help the company cement its technological foundations and grow its staff.

The company has said this funding will be instrumental in accelerating the company’s next stage. But precise plans for this stage still haven’t been made public.

At the same time, PlutoPe hopes to become a leader in the quickly changing crypto-neobank space. By putting this pre-seed funding in the bank, the startup is one step closer to making that vision a reality. With talents hailing from AAVE, SushiSwap, Yearn, and more—their collaborative spirit drives them to innovate and strategically grow the decentralized finance landscape.

The company’s plans to use the new capital to accelerate its next phase indicates an upcoming stretch of rapid development. This includes new product development and strategic initiatives focused on strengthening its competitive position in the marketplace. The funding will help PlutoPe continue to perfect its platform and expand the services it provides.