Former Revolut employees Ayelen Denovitzer and Shailendra Sason have teamed up around a new startup project called Solvo. The product is a new-generation cryptocurrency-focused app that wants to make investing into cryptocurrencies much easier. The company already raised $3.5m in seed round led by Index Ventures and backed by CoinFund and FJ Labs earlier this year.
According to Solvo, cryptocurrencies remain too complex, and this is one of the main barriers to their adoption. That is why the app wants to help consumers navigate the best and most worthwhile tokens out there on the market as opposed to listing hundreds of possible options which can be difficult to track.
Solvo is also taking advantage of DeFi products which makes it easier to focus on practical solutions that create consumer value and deepen investor understanding of the cryptocurrency sector. Among the products that Solvo plans to offer are Solana and Cardano Vaults, which it finds adequate for mass consumers and still having a good long-term investment potential.
“Investing with Solvo will be simple, easy, and understandable – three words not associated with crypto. Solvo is meeting a clear need for investors today, offering products that are focused on high quality assets, that provide diverse exposure and reduced risk as well as an attractive yield,” said Denovitzer, who is the chief executive at the company. In a way, Solvo wants to do what companies such as Coinbase originally sought to achieve.
For example, the popular cryptocurrency exchange started out as a self-proclaimed one-stop-shop for making investing in cryptocurrencies easier, but generally became the behemoth it is known today. Solvo will remain focused on its preferred investment options.