Monthly Archives: August 2025

Credit Coop Announces $4.5 Million Seed Funding Round to Transform Credit Markets

NEW YORK, Aug. 28, 2025 — Credit Coop, the protocol transforming credit markets by turning business cash flows into programmable collateral, today announced the close of a $4.5 million seed funding round led by Maven 11 and Lightspeed Faction, with additional participation from Coinbase Ventures, Signature Ventures, Veris Ventures, TRGC, and dlab.

This funding round will be leveraged to increase headcount through engineering and business development hires, rapidly expanding Credit Coop’s operations. The company’s platform delivers real-time settlement, automated loan servicing, and transparent credit monitoring, providing institutional lenders direct access to uncorrelated yield backed by verifiable cash flows. Credit Coop’s “mix and match” approach allows businesses to leverage both traditional assets and future cash flows to secure credit, unlocking unprecedented capital efficiency to help businesses with their working capital needs.

Christopher Walker, Founder and CEO of Credit Coop, commented on today’s news: “We’re eliminating the friction that has kept credit markets stuck in the 20th century. With strong traction and growing demand, this funding round accelerates our mission to serve every business that’s been told to wait 30 days for the capital they need today. We’re making credit work for the 21st century—instant, transparent, and always on.”

At the core of Credit Coop is its innovative Secured Line of Credit, powered by the Spigot smart contract. This groundbreaking technology allows businesses to collateralize their future revenues, creating a novel form of programmatic recourse that enhances capital efficiency for borrowers while providing unparalleled security for lenders. With its onchain execution, all lending activities are transparent, efficient, and programmable, changing the standard by which lending services operate.

“Credit Coop represents a fundamental shift in how credit markets operate. By giving lenders direct control over repayment flows, they have eliminated counterparty risk, enabling undercollateralized lending. Under Christopher’s leadership, we see Credit Coop as a sharper, cleaner and more composable credit stack. This represents a major step forward for capital efficiency, providing better infrastructure not just for DeFi and cryptonative projects, but for the global financial system that is progressively moving onchain.”- Alexander Essle, investor at Maven 11.

To date, Credit Coop’s platform has handled $150 million in total volume, with over $8.5 million in active loans. Trusted partners include Rain, Coinflow, Tulipa Capital, Re7 Capital, and Valinor among others. Through Credit Coop’s collaboration with Visa, the platform is enabling card issuers to leverage card receivables as programmable collateral, detailed in an upcoming case study.

For more information on Credit Coop, please visit: https://www.creditcoop.xyz/

About Credit Coop
Credit Coop is transforming credit markets with blockchain-powered infrastructure that turns business cash flows into programmable collateral. Our platform delivers real-time settlement, automated loan servicing, and transparent credit monitoring. Credit Coop provides institutional lenders direct access to uncorrelated yield backed by verifiable cash flows. By replacing courts with code and intermediaries with smart contracts, Credit Coop is building the foundation for a new generation of credit markets that are transparent, programmable, and settle around the clock.

Media Contact
[email protected]

SOURCE Credit Coop

Colorado ONE Fund Invests in Okika Devices as Company Establishes HQ at Catalyst Campus in Downtown Colorado Springs

COLORADO SPRINGS, Colo., Aug. 28, 2025 — Colorado ONE Fund, a regionally focused venture arm of ONE Funds, which backs critical technologies that advance Colorado’s innovation economy, has announced a strategic investment in Okika Devices, a leading developer of Field Programmable Analog Array (FPAA) integrated circuits. This investment follows Okika’s recent relocation of its headquarters to Catalyst Campus in downtown Colorado Springs, a hub for aerospace, defense, and advanced technology collaboration.

Led by a team of semiconductor industry veterans, Okika Devices develops reconfigurable analog chips and hardware development platforms that enable real-time signal processing. Its FPAA technology bridges the gap between digital and analog computing, delivering low-latency, low-power solutions for a broad range of defense, industrial, and sensing applications.

“We are committed to accelerating innovation that strengthens our national security and technological edge. Our investment in Okika Devices represents that mission in action,” said Kevin O’Neil, CEO of ONE Funds. “Okika’s breakthrough work in analog integrated circuits is exactly the kind of critical capability we need to support, and we are proud to help power their growth here in Colorado Springs.”

“We’re thrilled to partner with ONE Funds at this pivotal stage,” said William Staunton, CEO of Okika Devices. “With our new headquarters at Catalyst Campus, we’re building a world-class team in Colorado Springs to advance FPAA technology. Just as FPGAs reshaped digital design, FPAAs are set to redefine analog, delivering faster development, lower costs, and greater energy efficiency. The future of intelligent electronics is analog, and it starts here.”

About Okika Devices
Okika Devices is a pioneering company in the field of analog signal processing, specializing in the development of Field Programmable Analog Arrays (FPAAs). These innovative integrated circuits allow for the dynamic configuration of analog functions, enabling engineers to design and reconfigure analog circuits through software, similar to how FPGAs are used in digital circuit design. This flexibility significantly reduces development time and cost, making it easier to prototype and deploy complex analog systems. Learn more at www.okikadevices.com.

About ONE Funds
Founded in 2023, ONE Funds focuses on impact investing in the defense sector. With a unique ecosystem, ONE Funds connects defense technology innovators with government leadership, applying a strategic consortium model to grow small businesses. Boasting 250 years of cumulative defense experience, ONE Funds invests in aerospace and national defense technologies to deliver strong returns while advancing critical security innovations. As part of ONE Funds, Colorado ONE Fund partners with the Colorado Venture Capital Authority (VCA) to back early-stage, high-impact technologies supporting national defense. Learn more at www.onefunds.com.

German Nunez (ONE Funds)
Managing Director 
[email protected]

SOURCE ONE Funds

World Jai-Alai League Launches Fall 2025 Season, Marks Final Chapter at Magic City Fronton

MIAMI, Aug. 28, 2025 — The World Jai-Alai League (WJAL) returns Tuesday, Sept. 9 with the start of its Battle Court Fall 2025 season — a 12-week sprint of high-speed action and the final season at the Magic City Fronton, the venue where the league’s innovative approach sparked a modern revival of the centuries-old sport and drew in a new generation of fans. Live matches are presented every Friday at 7 p.m. through Dec. 12 at the Magic City Fronton, where six teams will compete for the coveted Battle Court title, currently held by the Renegades.

“Every season is a fresh serve — new matchups, new rivalries, and a shot at the top of the leaderboard,” said Scott Savin, chief operating officer of the World Jai-Alai League. “We’re gearing up to make this final season at the Magic City Fronton one to remember — packed with big plays, big personalities, and that fast-paced action fans have come to love.”

With free parking and free admission, Friday nights at the Magic City fronton deliver a one-of-a-kind South Florida experience — and the only professional jai-alai showcase in North America.

Battle Court Jai-Alai is a modern, faster-paced version of the traditional sport, played in a glass-walled court designed for maximum visibility and fan engagement. Each Battle Court team supports a benefitting non-profit or mission-aligned organization. This season’s partners include the Udonis Haslem Foundation, SLAM Foundation, Spain-U.S. Chamber of Commerce, Debris Free Oceans, Earthbound Academy and Baila con Micho School.

The World Jai-Alai League employs nearly 40 full-time athletes and stages more than 500 matches annually. Games are broadcast live on ESPN3 and available for wagering via DraftKings Sportsbook, BetRivers (Rush Street Interactive), and FanDuel.

For more information, visit www.jaialaiworld.com.

The World Jai-Alai League is dedicated to revitalizing the world’s fastest ball sport by modernizing gameplay, capitalizing on the exploding international sports wagering market, and delivering the sport through social media to a new generation of fans across the globe. For more information, go to www.battlecourtjaialai.com. The WJAL plays at the Magic City Fronton in Miami located at 450 N.W. 37th Ave.

MEDIA CONTACT
Sandra Rodriguez
305-753-3787
[email protected]

SOURCE World Jai-Alai League

Rain Raises $58M Series B Led By Sapphire Ventures to Become the Enterprise Stablecoin Platform of Record

Rain has experienced 10x growth in 2025 and now powers service to 1.5B+ people through a single integration

NEW YORK, Aug. 28, 2025 — Rain, the enterprise-grade infrastructure for stablecoin-powered payments, today announced a $58 million Series B funding round led by Sapphire Ventures, with participation from Dragonfly, Galaxy Ventures, Endeavor Catalyst, Samsung Next, Lightspeed, and Norwest. The raise brings Rain’s total funding to $88.5M and comes just five months after the company’s Series A — cementing Rain’s role as the single integration global fintechs, banks, and marketplaces use to launch compliant stablecoin-powered cards, wallets, and payment programs.

Enterprise interest in stablecoins has surged following the GENIUS Act in the U.S. and the MiCA framework in Europe, which have created a clear regulatory path for adoption. Rain’s vertically integrated platform enables partners to embed stablecoins into products and operations — covering money-in, storage, spending, and money-out — all through one API. Partners can compliantly launch programs to over 1.5 billion people today, with expansion underway into Europe, the Middle East, Africa, and Asia-Pacific.

Rain has pioneered making stablecoins instantly usable anywhere Visa is accepted through its physical and virtual card programs, processing millions of transactions across 150+ countries. The company’s transaction volume has grown 10x since January 2025, with portfolio partners — including Nuvei, Avalanche, Dakota, and Nomad — using Rain’s infrastructure for merchant payouts, everyday consumer purchases, B2B spend, and cross-border payroll.

“Stablecoins are shifting to the backbone of global commerce,” said Farooq Malik, CEO and Co-founder of Rain. “In its earliest form, money moved instantly. We’ve spent centuries slowing it down. Rain is bringing that simplicity back to billions of people, but now it works across any border, any platform, and any currency.”

Rain is a Visa Principal Member and uniquely settles 100% of card payment volume directly in stablecoins on the Visa network. The platform is built natively for stablecoins, not retrofitted from fiat rails, and meets enterprise compliance standards including PCI DSS, SOC 2, and audited smart contracts.

“Stablecoins have scaled to hundreds of billions in circulation, but until now, they couldn’t be easily spent. Rain is working to fix that by connecting stablecoins to Visa’s global network, turning them into money you can actually use for everyday commerce. We’re proud to partner with Farooq, Charles, and the Rain team as they redefine the future of payments,” said Jai Das, President and Partner at Sapphire Ventures, as well as Rain’s newest Board Director.

The new funding will be used to expand Rain’s platform and services to give global institutions the most flexible, modular, and compliant stablecoin infrastructure available. The company is also investing in hiring across engineering, commercial, and compliance teams; helping existing partners scale programs; and entering into new markets where enterprises are embracing stablecoin-based payment workflows.

About Rain: Rain is the global stablecoin infrastructure platform for enterprises, neobanks, platforms, and developers. Our technology allows partners to move, store, and use stablecoins instantly and compliantly through global payment cards, on/off-ramps, wallets, and cross-border rails. As a Visa Principal Member, Rain issues cards that work anywhere Visa is accepted, powering millions of purchases in over 150 countries. Built natively for stablecoins and trusted by more than 100 organizations worldwide, Rain delivers secure, scalable infrastructure that makes money move freely and instantly around the world. Learn more at https://www.rain.xyz/.

About Sapphire Ventures: Sapphire is a global software venture capital firm with over $11 billion in AUM and team members across Austin, London, Menlo Park and San Francisco. For more than two decades, Sapphire has partnered with visionary management teams and venture funds to back companies of consequence. Since its founding, Sapphire has invested in more than 170 companies globally resulting in more than 30 Public Listings and 45 acquisitions. The firm’s investment strategies — Sapphire Ventures, Sapphire Partners and Sapphire Sport — are focused on scaling companies and venture funds, elevating them to become category leaders. Sapphire’s Portfolio Growth team of experienced operators delivers a strategic blend of value-add services, tools and resources designed to support portfolio company leaders as they scale.

Media Contact:
Lucas Piazza
Marketing Lead, Rain
[email protected] 

SOURCE Rain

FinChain under Fosun Wealth Holdings Officially Launches and Secures Multi-Million-Dollar Financing

HONG KONG, Aug. 28, 2025FinChain, a Web3 brand incubated by Fosun Wealth Holdings, officially launched and announced that it has signed agreements with a group of investors in connection with its first round of external financing, for an investment of several million U.S. dollars. On the same day, Fosun Wealth Holdings and FinChain also partnered with seven leading Web3 institutions to create a new ecosystem for crypto finance. These milestones not only underscore FinChain’s active role in developing Web3.0 infrastructure in the Asia-Pacific region but also mark a significant expansion of Fosun Wealth Holdings’ strategic footprint in the Real World Asset (RWA) sector.

On the same day, “Stablecoin & RWA Innovation Forum” was held in Hong Kong, co-hosted by FinChain, Vaulta (formerly EOS Network), a globally renowned Web3 public blockchain, and Feixiaohao, a prominent blockchain rating agency. The event brought together over 200 financial executives, scholars, and entrepreneurs from organizations including Fosun Wealth Holdings, Solana, OSL, CipherBC, Matrixport, Animoca Brands, RD Technologies, Standard Chartered, Circle, BOCOM International, BNY Mellon, Bank of China (Hong Kong), SoftBank Asia, ICBC Asia, BITFUFU, and other major crypto infrastructure institutions.

Building a Blockchain Compliance Layer to Enhance Asset Liquidity

FinChain positions itself as a financial infrastructure platform that enables compliant on-chain circulation of real world assets. It is dedicated to improving the efficiency of on-chain and off-chain investment and financing, as well as asset transparency, by establishing a blockchain compliance layer and trust mechanisms. FinChain will also enhance global liquidity for compliant digital assets, serving as the “first stop for customer acquisition” for compliant assets like stablecoins. Compliant users can benefit from a seamless “one-time KYC, accessibility” service. FinChain prioritizes compliance requirements at the technical level to deliver efficient and secure services for users.

Cheng Kang, CEO of Fosun Wealth Holdings and Chairman of FinChain, said, “Fosun Wealth Holdings is fully committed to building an AI-driven, one-stop global Web5 (“Web2+Web3″) wealth management platform, creating a seamless ecosystem that integrates digital assets with real-world value. As a pioneer in this vision, FinChain is designed to develop a physical finance blockchain ecosystem for global users, focused on constructing on-chain compliant financial infrastructure. Our goal is to enhance the flow of assets and capital between on-chain and off-chain systems, drive a paradigm shift in investment and financing models, and co-build an open, interconnected, and trusted Web5 ecosystem with the global community.” Zhao Chen, CEO of FinChain, said, “FinChain’s mission is to create a global blockchain compliance layer, fostering a compliant blockchain ecosystem that brings real-world assets into DeFi, unlocking their immense value potential.”

On the same day, FinChain announced that it has signed agreements with a group of investors in connection with its first round of external financing, for an investment of several million U.S. dollars. The strategic investors include the Solana Foundation, Vaulta Foundation, Sonic Labs, Animoca Brands, Unified Ventures, and Tengyun Capital, among other leading Web3 companies and renowned venture capital firms. The funds will support FinChain’s global strategic expansion and business development through technological collaboration and ecosystem partnerships.

Partnering with Seven Leading Institutions to Build a New Crypto Finance Ecosystem

During the forum, Fosun Wealth Holdings and FinChain signed strategic cooperation agreements with Feixiaohao, Animoca Brands, Matrixport, CipherBC, FomoGroup, MetaComp, and Vaulta. Feixiaohao is a key Asian media platform; Animoca Brands is a top-tier investment firm; Matrixport is a leading crypto asset management group; CipherBC is a technology-driven crypto security provider; FomoGroup is one of the largest fintech groups in the Asia-Pacific; MetaComp is a licensed compliant exchange in Singapore; and Vaulta (formerly EOS Network) is the first on-chain bank providing full-chain services. These strategic partnerships will integrate efforts across brand building, asset management, technological infrastructure, and Asian payment channels, creating a new ecosystem for crypto finance that supports real-world assets within a compliant framework.

Vaulta, one of the forum’s co-organizers, also announced its deep collaboration with FinChain in the RWA and stablecoin sectors, marking a milestone in introducing traditional financial tools to blockchain infrastructure. Vaulta’s CBO, Sistine, highlighted at the forum that Vaulta aims to provide a one-stop solution for wealth management, trading, and payment services under a unified account, realizing the vision of a true Web3 bank. Feixiaohao, another co-organizer and a leading blockchain rating agency, released the “Asia RWA Rankings” and announced its global compliance strategy.

About FinChain

FinChain is a Web3 brand incubated by Fosun Wealth Holdings, dedicated to building a global real world asset (RWA) financial blockchain network for users. At its core, FinChain is developing a compliant layer for the blockchain ecosystem offering users a unified on chain identity system, and a developer-friendly hub for compliant resource distribution. This infrastructure empowers builders to rapidly launch and scale in both the DeFi space and traditional finance sectors.

SOURCE Finchain Hong Kong Limited

Axenya Raises US$12 Million to Scale AI-Driven Corporate Health Platform with Predictive Data

Series A round, led by Canary and Indicator Capital with participation of Zentynel, marks one of the largest early-stage health sector fundings in Brazil

SÃO PAULO, Aug. 27, 2025Axenya, a health tech company specializing in the intelligent orchestration of corporate healthcare, has announced a Series A funding round of US$12 million (approximately BRL 65 million), led by Canary, co-led by Indicator Capital, and joined by Zentynel. The investment will drive the company’s commercial expansion and advance its technology platform, with a focus on artificial intelligence, data interoperability, and connected biomarkers.

Unlike traditional brokers that merely mediate health plans, Axenya takes an integrated approach: it connects companies, employees, insurers, and healthcare professionals through advanced technological infrastructure and data intelligence. Its solution is built on two main pillars: LifeVault, an interoperable data lake that organizes clinical, operational, and administrative information; and Axenya IQ, a predictive engine powered by AI and GenAI, capable of anticipating risks, suggesting interventions, and optimizing care journeys.

For Mariano Garcia-Valiño, founder and CEO of Axenya, the company’s true differentiator lies in the combination of cutting-edge technology and a business model capable of structurally transforming the system. “In healthcare, having a great product isn’t enough—you need a business model that can reshape the system. That’s what sets Axenya apart.”

Among the results reported by clients are: medical inflation up to 50% below market average, loss ratios 1,500 basis points lower than the national average, a 22% reduction in total healthcare costs year-over-year, a 40% drop in expenses for high-risk patients, and a 50% lower cost per procedure or consultation—even with a 13% increase in the number of appointments during the same period.

Kristian Huber, General Partner at Canary, emphasizes that Axenya’s ability to deliver measurable impact was key to the investment: “Axenya impressed us with its innovative approach and proven results in reducing steep annual health plan cost increases for companies and their employees, while improving care for patients with critical conditions.”

Thomas Bittar, co-founder of the leading deep tech fund in Latin America, highlights: “We believe Axenya is building the technological infrastructure needed to revolutionize corporate health management in Brazil. Indicator’s role is to accelerate this transformation by integrating data, devices, and predictive intelligence—key elements to reshape population health in one of the country’s most challenging and underserved markets.”

Founded in 2020, Axenya had previously raised US$ 6.8 million in earlier rounds, with participation from Patria High Growth, Big_Bets, Zentynel, and others. The new funding will be primarily allocated to commercial expansion, consolidation of growth channels, and advancement of the technology roadmap.

SOURCE Axenya

Heave Raises $7M Series A to Deliver 24-Hour Heavy Equipment Repair and Transform Technician Earnings

Dominant in Florida and Texas, Heave delivers multi-brand fixes in under a day and boosts mechanic earnings up to 6×; round led by Outsiders Fund brings total funding to $13M

TAMPA, Fla., Aug. 27, 2025Heave, the platform connecting construction companies with on-demand heavy equipment mechanics, today announced a $7 million Series A round led by Outsiders Fund, with continued support from FJ Labs, Long Journey Ventures, and Slow Ventures. The new capital brings Heave’s total funding to $13 million and will be used to fuel market expansion, customer acquisition, and team growth.

Operating like “Uber for heavy equipment repair,” Heave is solving one of the most frustrating and costly issues in construction: equipment downtime. By offering companies access to certified, vetted mobile mechanics, Heave helps keep machines running and projects on schedule. The company currently services 600+ machines per month and has over 300 active mechanics in its network out of a total pool of 850 nationwide.

Founded by Alex Kraft, a former dealership executive who saw firsthand how slow and expensive traditional service models could be, Heave was built to be faster, more affordable, and built around the needs of job sites. The company is already a dominant player in Florida and Texas, and is expanding quickly across Atlanta, Charlotte, and Nashville regions with high-density construction and equipment usage.

“Heavy equipment is the lifeblood of the American construction economy, and downtime is a $1,000-per-hour problem for these businesses,” said Alex Kraft, founder and CEO of Heave. “This funding gives us the fuel to expand faster and deliver even more value to contractors who rely on us to keep their projects moving. We’re not just speeding up repairs, we’re redefining how this entire industry operates.”

The company’s 21-person team supports a fully 1099 mechanic model, offering flexible work for experienced technicians while meeting the urgent needs of contractors and site operators.

On one side, customers are getting technicians on-site in less than 24 hours, versus waiting days or weeks. Plus, Heave’s brand agnosticism allows them to address multiple brands at a time. On the technician side, Heave offers life-changing earning potential, with some technicians seeing up to a 600% increase in earnings. The demand is clear, and Heave is helping to meet it.

“Alex and the team at Heave are seeing incredible early success in a highly complicated and fragmented market,” said George Easley, Partner at Outsiders Fund. “Their thoughtful approach to solving the logistical and monetary pain of heavy equipment dealer service is positioning them to be a category-defining leader in construction tech.”

About Heave
Heave is the on-demand platform for heavy equipment repair. Built for the construction industry, Heave connects companies with qualified mechanics who can service machinery on-site. Founded in Tampa, Heave is modernizing one of the last offline corners of construction and keeping America’s job sites moving. Learn more at www.heaveapp.com.

Media Contact:
Kathy Osborne
Kamel PR
[email protected] 
607-434-2065

SOURCE Heave Inc.

Central Raises $8.6M Led by First Round to Replace Traditional Payroll & HR/Finance Tools With an AI-First Back Office in Slack

YC-backed Central enters the payroll wars, processing $75M+ with hundreds of customers taking on Gusto, Rippling & Deel.

SAN FRANCISCO, Aug. 27, 2025 — Central, the first autonomous back-office platform built for startups, today announced $8.6M in seed funding led by First Round Capital, with participation from Y Combinator, Ritual Capital, Multimodal Ventures, Alumni Ventures, Surgepoint Capital, and several prominent founders, including Kulveer Taggar (Co-Founder & CEO at Zeus), JJ Fliegelman (Co-Founder & CTO at WayUp), and Richard Aberman (Co-Founder and CPO at WePay).

Designed for the next generation of companies that prefer to build rather than perform back-office tasks, Central utilizes AI to fully automate payroll, benefits, state registrations, HR, accounting, taxes, government filings, and more. Unlike traditional HR/finance tools, Central acts like a teammate in Slack, handling operations behind the scenes and eliminating the need for founders to learn complex systems or manage to-do lists. 

“Founders don’t start companies to get buried in payroll forms or state compliance filings,” said Josh Wymer, co-founder and CEO of Central. “This funding allows us to scale what’s working, as hundreds of startups already rely on Central as their AI-powered back office. We’re growing fast because founders want to focus on building, not bureaucracy. Central gives them the operational leverage of a full HR and finance team, without having to hire one.”

Central competes with decacorn and centicorn companies in this space, such as Rippling ($16B), Deel ($12B), Gusto ($10B), ADP ($122B), and Workday ($60B). Its AI-first platform offers a modern and compliant alternative to the fragmented back-office stack, automating everything from state registrations and tax filings to payroll, benefits, and employee onboarding. Purpose-built for high-growth companies, it eliminates operational drag, helps avoid costly compliance mistakes, and frees teams to scale faster. Customers simply message Central in Slack when they need help, and the system handles the rest.

Central is rapidly becoming the back-office platform of choice for hundreds of high-growth companies like Wordware, Wyndly, Poseidon Aerospace, Bitesight, Abel Police, Ulysses, Deepnight, Blaxel, and Diode. To date, it’s processed over $75 million in payroll, with nearly one-third of customers switching from legacy providers such as Rippling, Gusto, and Deel, underscoring demand for a truly modern, AI-native alternative.

“Every founder hits a moment where back-office operations start getting in the way of building the business,” said Meka Asonye, Partner at First Round Capital. “Central is the first solution we’ve seen that doesn’t just streamline the work, it eliminates it. The team possesses a rare combination of firsthand experience, technical expertise, and a profound understanding of what startups truly need. We’re proud to back Central as they redefine what modern, AI-powered operations should look like.”

With this new round of funding, Central plans to scale its platform, expand its expert support team, and continue building features & integrations that eliminate friction from the startup back office.

About Central
Central is the first autonomous back-office platform purpose-built for startups. Designed for founders who use Slack and want to stay focused on building and not bureaucracy. Central automates payroll, benefits, compliance, accounting, taxes, and more through a simple Slack interface.

SOURCE Central

71/70 Angels Closes First Fund, Makes Initial Investments in Early-Stage Startups

Ohio Fund Brings Together Network of Nearly 50 Angel Investors to Fill Critical Funding Gap for Enterprise Software and Advanced Technology Companies

COLUMBUS, Ohio, Aug. 27, 2025 — Today, 71/70 Angels, the Ohio angel fund that invests in enterprise software and advanced technology startups nationwide, is announcing the close of Fund I. The inaugural fund brings together an expansive network of nearly 50 angel investors, including seasoned as well as first-time investors who bring new capital and fresh perspectives into early-stage investing. 71/70 Angels is filling critical funding gaps in the Midwest startup ecosystem, delivering support for early-stage companies with high-growth potential. The fund has come out of the gate strong, by already funding two local companies.

“71/70 Angels is built with a founder-first ethos, blending a streamlined process with Midwest grit and values,” said Melinda Gloriosa, Managing Director at 71/70 Angels and Rev1 Ventures. “With this first fund closed and our early investments underway, we’re taking action—backing startups with capital, along with an active network of operators, funders, and functional leaders who know how to build scalable companies.”

Despite economic headwinds in 2025, investor activity remains strong. According to the Angel Investment Network, 40% of angels plan to invest more this year than last. And startups backed by angel investors show a 58% higher five-year survival rate. 71/70 Angels is tapping this momentum to strengthen the Midwest’s innovation economy and open new pathways for both founders and investors.

In the first 90 days since its close, 71/70 Angels Fund I has already made two investments in high-growth companies including Ohio-based AI-driven marketing intelligence company, Nichefire, and a developer of next-generation technology for data privacy.

“I see angel investing as a powerful way to give back and help diverse entrepreneurs get the funding, mentorship, and networks they need to succeed,” said Laura MacDonald, 71/70 Angel Fund investor. “71/70 is already energizing the angel investor community in Central Ohio and I know it will have a significant impact on startups nationwide.”

“This is about growing a culture of innovation and entrepreneurship, while giving angel investors a strong connection to the next wave of transformative tech companies. Both new and experienced investors are directly supporting innovators, fueling job creation, economic growth, and stronger deal flow across the region,” added Michael Error, 71/70 Angel Fund investor.

71/70 Angels backs seed and early-stage companies developing high-impact solutions for large and growing markets. Powered by a dedicated network of individual angel investors and supported by Rev1 Ventures, the fund is designed to streamline the funding process and accelerate growth opportunities for entrepreneurs and investors. For more about 71/70 Angels, visit www.7170angels.com.

About 71/70 Angels
71/70 Angels is an Ohio angel fund that invests in seed-stage software companies nationwide. Based in an important tech hub, 71/70 is expanding the angel community to help more entrepreneurs close critical funding rounds. Powered by Rev1 Ventures’ decades of investment expertise, 71/70 ignites a dedicated and growing group of investors committed to supporting startup success. 71/70 combines a transparent funding process and formalized due diligence to improve outcomes for both startups and investors.

SOURCE 71/70 Angels