DeFi start-up Nova Finance appoints COO

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Sav­ings and Investment

The Edin­burgh-found­ed cryp­to start-up has appoint­ed Zaahi­rah Adam as its first-ever chief oper­at­ing officer.

DeFi start-up Nova Finance appoints COO

Image source: Zaahi­rah Adam

DeFi start-up Nova Finance has appoint­ed Zaahi­rah Adam as its first chief oper­a­tions officer. 

Nova, found­ed in 2017, offers an invest­ment solu­tion based on the Solana blockchain, which can be used for smart con­tracts and offers an alter­na­tive to the Ethereum network.

Their plat­form allows users to have their port­fo­lio auto­mat­i­cal­ly rebal­anced, and appar­ent­ly offers invest­ment strate­gies such as dol­lar cost aver­ag­ing and prof­it calls.

The fir­m’s pro­to­col is cur­rent­ly under­go­ing beta test­ing with a full pub­lic launch expect­ed at an undis­closed date. 

Pri­or to join­ing Nova, Ms Adam served as chief of staff at embed­ded finance plat­form Liberis and was pre­vi­ous­ly  head of strat­e­gy and exe­cu­tion at Capi­ta Pensions

In her new role, the exec­u­tive will be respon­si­ble for the over­all busi­ness oper­a­tions of the com­pa­ny, and the finance func­tion as well as for devel­op­ing and exe­cut­ing Nova’s strate­gic roadmap.

Tom Sichel, co-founder of Nova Finance high­light­ed that a key part of Zaahirah’s role will be to trans­late busi­ness pri­or­i­ties into roadmaps for the devel­op­ment team, as well to pri­ori­tise tech­ni­cal work and to sup­port on the prod­uct side “by trans­lat­ing user feed­back and require­ments into tech devel­op­ment tools”.

The appoint­ment comes as Nova is fresh off the back of a very $3m fund­ing round in Octo­ber 2021,  which includ­ed par­tic­i­pa­tion from Solana, Rare­stone, Ani­mo­ca Brands and Morn­ingstar Ventures.

This is like­ly not the last DeFi fund­ing round we’ll see this year, the space is boom­ing accord­ing to the research, despite the vari­ety of high-pro­file cyber­at­tacks in the sec­tor that have been seen in sector.

Over 1,139 DeFi and Web3-relat­ed deals have been struck this year accord­ing to fig­ures from Coin­Tele­graph, a sig­nif­i­cant rise from the 1,348 made in 2021. 

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