Moon Mortgage Lifts $3.5 Million Seed Round

Moon Mortgage lifts $3.5 Million Seed Round to use its crypto as collateral for financing its lending product, CryptoMortgage.
CryptoMortage will take the digital assets of investors as collateral and give 100% financing for real estate investments.

Moon Mortgage, a crypto backed mortgage provider introduces the CryptoMortage that will provide 100% financing for investment properties. In which the investor can also use it to take out a loan against the value of their cryptocurrencies.

The CryptoMortgage Product

The Founder and CEO of Moon Mortgage, Aaron Nevin recently stated that “Our $3.5 million investment — an impressive feat given the bearish outlook still given on crypto — will go a long way to making that vision a reality, as we look to launch our CryptoMortgage product this year. People are already incentivized to use their crypto to invest in real estate; the problem is that until now they have never had the ability to.”

In continuation he added “Historically, to buy a home they would have had to liquidate their assets, lose their upside and get hit with a massive tax bill. The aim is to bridge the two worlds of crypto and TradFi to make it easy for them to leverage their digital assets.”

Nevin further remarked that “Many investors have been able to make impressive gains by investing in crypto – but you still can’t use it to buy a house. Also, the convergence of TradFi and crypto is still a long way off, so we want to bridge that gap now and allow investors to not just be able to use their crypto to invest in real world assets, but to also be able to continue benefiting from their crypto investments in the long term.”

According to the crypto mortgage firm, the CryptoMortgage will soon launch for home buyers in Texas, Florida and Colorado, and will finally be open to investors in most states across the U.S. for investment properties. It must be noted that the crypto assets of Moon Mortgage will be stored with the Crypto Custodian firm, Anchorage Digital, which is a U.S. Federally Chartered Crypto Bank.

Additionally, CoinFund and Cadenza Ventures combinely led the round. Austin Barack, Partner, Venture & Liquid Investments at CoinFund, also showed his excitement and said that “We are thrilled to partner with the team as they embark on their growth journey. Moon Mortgage is building the critical infrastructure to connect crypto to the real estate asset class and beyond. By offering 21st-century financial solutions, Moon Mortgage is poised to drive a significant improvement in the home buying and lending experience.”

Moreover, the official Twitter account of Moon Mortgage just (October 11, 2022) shared a post regarding the launch of something for crypto investors.