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MoHash snags $6M to help investors with sustainable, stable high crypto yields

MoHash founder
Image credits: MoHash

MoHash, decentralised finance (DeFi) protocol that harnesses liquidity in cryptocurrencies for private debt, announced that it has secured $6M in a Seed funding round co-led by Quona and Sequoia Capital India. 

Other investors, including Jump Crypto, Hashed Ventures, Coinbase Ventures, Ledger Prime, and CoinSwitch along with Balaji Srinivasan, Sandeep Nailwal and Jaynti Kanani, participated. 

DeFi protocol

Founded by Arun Devarajan in 2021, MoHash is a DeFi protocol which provides investors access to sustainable scalable stable high yields backed by real world debt assets. 

“MoHash is bringing global liquidity to non bank lending in high growth economies. We believe it’s the right rocket fuel that’ll help them double their economies in the coming years.”, says Arun Devarajan, founder and CEO of MoHash. 

The protocol issues a fungible ERC-20 token (MoH Token) that reflects a claim on a diversified pool of debt instruments which are risk managed and financially regulated in order to protect the investors’ interests.

Arun Devarajan and his early team have run fintech businesses lending to MSMEs, managing market risk for Asian debt assets worth $100B, and managing funds worth $100M. Before MoHash, the team has worked at Goldman Sachs, Samsung, Amazon, Oliver Wyman and India Stack.


Sequoia helps daring founders build legendary companies, from idea to IPO and beyond. 

Shailesh Lakhani, MD, Sequoia India comments, “MoHash is bringing real world assets to DeFi users globally and providing sustainable, uncorrelated, and hard to access yields on-chain for the first time. We think that this is exactly the type of product DeFi needs – one that leverages the strengths of blockchains and helps solve a real world problem. We’ve loved working with them over the past few months and Sequoia Capital India is thrilled to co-lead this financing.” 

Quona Capital is a venture firm focused on fintech that can expand access for underserved customers and small businesses in emerging markets including Latin America, Africa and the Middle East (MENA), and South and Southeast Asia.

While Ganesh Rengaswamy, co-founder and managing partner at Quona adds, “MoHash’s DeFi protocol has been built for efficient liquidity provisioning across emerging markets at scale, which is very exciting to us at Quona. The solution has the potential to meaningfully bridge MSME funding gaps across the globe—starting with India—and we are delighted to be part of this company’s journey to do that.” 

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