Solana-based Programmable Cash Stream Protocol Zebec Raises $15 million

Zebec is an instant and continuous money stream protocol on Solana which has raised $15 million in a Series A funding round led by Solana Ventures and Distributed Global, with participation from Coinbase Ventures, Alameda Research, Circle, Lightspeed, and others. 

Zebec, which developed a Solana-based protocol for continuous, real-time settlement of financial transactions, raised the funds in a round led by Solana Ventures and Distributed Global.

Other participants in the round included Alameda Research, Circle, Coinbase Ventures, Lightspeed Venture Partners and DST Global, among others.

The new funding will be used to continue scaling Zebec’s protocol.

The idea behind the Zebec protocol is to make it easier for users to send and receive payments on an ongoing basis. Zebec launched last November on the Solana mainnet, buoyed by a $6 million funding round, along with a payroll-focused app. That round was led by Breyer Capital, Republic Capital, and Shima Capital.

“Despite all of the promise of decentralized finance and Web3, most organizations are still relying on Web2-style payments or, at best, one-time wallet transfers,” said Sam Thapaliya, founder of Zebec, said in a statement Tuesday. “We’ve built a DeFi native solution for instant, seamless and continuous money streams and we think Zebec will be the future model for on-chain payments.”

About Zebec

Zebec is a revolutionary DeFi technology that empowers real-time, frictionless and continuous streams of payments. The automatic money streams made possible through Zebec allow businesses, employees and consumers to completely reimagine how they are paid, how they invest and how they buy products or services.

⏩ SOURCE