Lava

About Lava

Lava.xyz operates as a financial platform centered on Bitcoin, established in January 2022 by founder and CEO Shehzan Maredia. Maredia, formerly an engineer on Google's Cloud AI team, was motivated by his family's immigrant background and the belief that the traditional financial system is flawed. He envisioned a simpler way for individuals to save in Bitcoin while spending in dollars, leading to Lava's creation.

The company's core business revolves around providing Bitcoin-collateralized loans, allowing users to access dollar liquidity without selling their Bitcoin holdings. This service targets Bitcoin holders who wish to retain their assets while covering expenses like home purchases, tuition, or medical care. The business model generates revenue through interest on these loans, offering fixed rates starting at 5%. The platform functions as a Bitcoin-native financial system, emphasizing self-custody and on-chain transparency to avoid the pitfalls of previous crypto lending cycles.

Lava's primary offering is a bitcoin-backed line of credit (BLOC), which functions like a revolving account, allowing users to borrow, repay, and borrow again as needed. A key feature is the "Lava Vault," a self-custody wallet that uses a 2-of-2 multisignature recovery system tied to a user's cloud account and a PIN, eliminating the need for traditional seed phrases. The platform also provides a Visa card that enables users to spend from their loan balance and earn rewards in Bitcoin. For lenders, the platform offers an opportunity to earn a 7.5% APY by funding the fully collateralized loans.

The company has secured significant funding to support its growth. After an initial $10 million Series A led by Founders Fund and Khosla Ventures in December 2024, Lava raised an additional $17.5 million in October 2025, bringing its total funding to over $27 million. These funds are allocated to expanding the company's infrastructure for Bitcoin-denominated financial products.