Solvo

About Solvo

Solvo Finance operates as a platform aiming to simplify cryptocurrency investment for newcomers. The company was founded in 2022 by Ayelen Denovitzer and Shailendra Sason, who both previously worked on the crypto team at Revolut. Their shared experience in a leading fintech environment highlighted the complexities and barriers that deter many from entering the crypto market, inspiring the creation of Solvo. Located in Vilnius, Lithuania, the startup secured $3.5 million in a seed funding round led by Index Ventures, with participation from CoinFund and FJ Labs, to develop its product and expand operations.

The business targets individuals who are curious about crypto but find the existing platforms and terminology intimidating. Solvo's mobile application, available on iOS for users in the European Union and the United Kingdom, provides a simplified entry point into decentralized finance (DeFi). The company's revenue model is based on taking a percentage of the earnings generated from its yield-producing products, ensuring that the service remains beneficial for its users as they earn interest.

Solvo's core offering is an app that streamlines the crypto experience through several key products. 'Bundles' allow users to invest in themed baskets of tokens, such as blue-chip cryptocurrencies, DeFi, or metaverse and gaming projects, without needing to research thousands of individual assets. 'Vaults' offer a way for users to earn a yield on their holdings by depositing funds into protocols that generate returns, with Solvo managing the technical backend. The platform supports buying, selling, and holding a curated list of around 10 cryptocurrencies to prevent overwhelming users. A distinctive feature is the ability for users to create their own NFTs using generative AI, which can be minted for free on the Optimism network. To enhance security, Solvo has integrated with Fireblocks to manage digital asset operations.