DeFi Development Corp is raising $24 million in PIPE funding to expand its Solana-based financial strategy, accelerating its transition into a decentralized finance-focused company alongside major investment firms.
According to The Block on the 1st (local time), the Nasdaq-listed DeFi Development Corp (formerly Janover) announced that it will expand its Solana (Solana, SOL) asset holdings through approximately $24 million in PIPE (Private Investment in Public Equity) funding. The company plans to use these funds for general corporate operations, additional SOL purchases, and staking.
This PIPE investment includes major crypto-focused investment firms such as Galaxy Digital, Amber International Holding Limited, Arrington Capital, Republic Digital, and Borderless Capital. The company will issue approximately 310,000 common shares and 215,000 pre-funding warrants at a per-share price of $46, with the current JNVR stock price at $76.36.
On April 22nd, DeFi Development Corp changed its name from the existing real estate software company Janover and underwent a management restructuring centered on former Kraken executives, attempting a full-scale pivot into the decentralized finance sector. A partnership with Kraken has also been established for SOL staking strategies.
The company stated, "This funding is a turning point in becoming the most transparent crypto-native financial strategy company in the public market," and "We will provide investors with continuous growth based on SOL-per-share."
Currently, DeFi Development Corp holds a total of 317,273 SOL, which is valued at approximately $46.2 million (based on SOL market price as of May 2025), including staking rewards. This is a significant increase from $34.4 million in early April.
Solana is currently ranked 6th among cryptocurrencies with a market capitalization of around $79.8 billion and a daily trading volume exceeding $3.5 billion. As of May 1st, the SOL price was $153, up 7% from the previous day.
Real-time news...Go to TokenPost Telegram
<Copyright ⓒ TokenPost, Unauthorized Reproduction and Redistribution Prohibited>
