Spice Finance

Operating within the decentralized finance (DeFi) sector, Spice Finance provides a liquidity deployment infrastructure focused on the non-fungible token (NFT) lending market. The company was established in 2021 by co-founders Niyant Narang, Dylan Vu, and Jakub Janiak, who serves as the CEO. Based in Los Angeles, the firm targets DeFi users and capital lenders seeking to generate returns from the NFT asset class.

The core of Spice Finance's business is its platform that functions as a yield optimizer and liquidity routing protocol for NFT lending. It aggregates various NFT lending marketplaces, allowing users to deposit capital, primarily Ethereum (ETH), into specialized vaults. Each vault executes a distinct, automated lending strategy across a variety of NFT collections and platforms. This model is designed to simplify the lending process, saving users the time and transaction costs associated with managing individual loans. For its service, the company likely generates revenue through fees on the yield earned by the capital deployed through its vaults. The platform enables lenders to passively deploy their assets and earn yields, while also providing liquidity to the broader NFT market.

Since its inception, Spice Finance has secured notable funding, raising a total of $7.31 million over three rounds. Its first funding occurred in July 2022, followed by a seed round in October 2022 that included investors like Shima Capital and Protofund. The most significant round was a Series A in October 2024, which brought in $4.69 million. This positions the company as a Series A startup operating in the Web3 and financial software industries.

Keywords: NFT lending, decentralized finance, DeFi, yield optimizer, liquidity routing protocol, crypto lending, NFT finance, digital asset lending, Web3, blockchain finance, automated lending, Ethereum vaults, capital deployment, NFT liquidity, financial software, Niyant Narang, Dylan Vu, Jakub Janiak, Shima Capital