PennyWorks Doubles User Acquisition, Announces Formation of Advisory Board

The platform also debuted an ACH pull solution to increase ease of funding for individual and institutional investors

HOBOKEN, N.J., Sept. 8, 2022 /PRNewswire/ -- PennyWorks, a DeFi-based platform that tames the turbulence of investing with a secure and stable experience, today announced major milestones in its first few months of operations, including  a 205% month-over-month increase in user acquisition following the company's $2 million pre-seed funding round led by Hi2 Global.

The platform also introduced the formation of an Advisory Board focused on risk reduction and unveiled a new option to increase the ease of funding for investors through an integrated ACH pull solution.

"As the industry begins to emerge from months of volatility driven by bad actors and reckless operations that spooked countless investors, PennyWorks has doubled-down on improving the user experience and deepening trust in our platform to encourage adoption and fortify the DeFi sector," said Ivan Zhang, Co-Founder and CEO of PennyWorks.

As interest in the PennyWorks platform continues, a newly formed Advisory Board will help guide the company's risk-management strategy. The advisory board is composed of four professionals with over 70 years of deep expertise in both traditional finance and crypto, including Harumi Urata-Thompson, Founder and CEO of HUT Consulting.

"PennyWorks shows great promise as an alternative investment vehicle that allows individuals and businesses the ability to earn yield through collateralized digital asset lending," said Urata-Thompson. "The highest priority of our advisory group is to use our decades of experience to ensure PennyWorks leads the future of alternative investments through strict risk reduction protocols and diligent asset management, all while providing our customer with the highest level of transparency to build trust."

Urata-Thompson previously served as a global CTO for major finance brands and contributor of the Bahamas' CBDC Sand Dollar.

"We are grateful to Harumi and the entire Advisory Board for sharing their expertise with PennyWorks, and are excited about the opportunities ahead for investors who believe their financial relationship ought to deliver more," continued Zhang.

PennyWorks will join a select group of fintech leaders to demo its platform at FinovateFall on Monday, September 12.  Accredited investors can learn more about PennyWorks by attending the event, or by visiting https://www.pennyworks.com/.

For the sophisticated investor who believes their financial relationship ought to deliver more, PennyWorks tames the turbulence of investing with a secure and stable experience. Founded in 2021, PennyWorks is an investing platform that offers access to high-yield, low-risk, DeFi-based fixed income products through HybridFi Lending LLC, a wholly owned subsidiary of HybridFi Inc., the parent and operator of the pennyworks.com site. To learn more about PennyWorks, please visit https://www.pennyworks.com/.

Neither this communication or any other by HybridFi Inc., its wholly owned subsidiary HybridFi Lending LLC, or any of its affiliates (collectively, "HybridFi") should be construed, or is intended, to be a recommendation to purchase, sell or hold any security or otherwise to be investment, tax, financial, accounting, legal, regulatory or compliance advice. Nothing in this communication is intended as an offer to borrow or extend credit, an offer to purchase or sell securities or a solicitation of any securities transaction.

The site (www.pennyworks.com (the "Site")) offers access to alternative investments and is committed to making financial products more inclusive. Joining the Site neither constitutes an indication of interest or reservation of securities in any offering nor involves any obligation or commitment of any kind. Offers to sell, or the solicitations of offers to buy, any security can only be made through official offering documentation that contain important information about risks, fees and expenses. No money or other consideration is being solicited, and will not be accepted without such potential investor having been provided the applicable offering documentation and only then in accordance with the terms thereof. This information contained herein is qualified by, and subject to, more detailed information in the applicable offering materials. HybridFi does not make any representation or warranty to any prospective investor regarding the legality of an investment in any security.

See other important disclosures located at https://www.pennyworks.com/disclosure.

MEDIA CONTACT
Jackson Gaskins
Rally Point Public Relations
[email protected]
916.616.3978

SOURCE PennyWorks