Solvo is the latest in the series of smartphone apps that aim to simplify cryptocurrency investment. Shailendra Sason and Ayelen Denovitzer, the two founders of the app, previously worked for Revolut in the cryptocurrency department. That’s where both met and the seeds of Solvo were planted.
Solva had its seed round of funding earlier in 2022, where it raised $3.5 million from Index Ventures. Solvo now has a 10-member team and the company has finally launched its iOS app.
The vision of Solvo is simple. According to the founders, Cryptocurrency is still confusing to most people, and crypto penetration has increased in select circles only. The vast majority of the American population is still unaware of cryptocurrencies and why investing in them might be a good idea.
Solvo takes an existing problem and simplifies it. For example, the app would only have ten coins for investors to buy and sell. But more than that, Solvo aims to bring DeFi yields to the average investor. Solvo would have ‘Vaults’ where investors can deposit their cryptocurrencies and earn interest on them. It plans on offering Cardano and Solana vaults soon.
One of the most useful features of Solvo is the ability to invest in multiple tokens and DeFi projects in a single transaction. It’s similar to buying baskets of stocks or ETFs, but for digital currencies and projects.
Volvo’s aim is to uncomplicate crypto investments for beginners. Its easy-to-use features are steps in that direction.