Liquid Restaking Protocol Renzo Raises $17 Million to Expand Its Services

Renzo, the Liquid Restaking protocol, announced today that it has received $17 million in funding. Renzo has a valuation of approximately $4 billion in today’s prestige. The first type of funding, which took place in two types, was managed by Galaxy Ventures, and the second type was managed by Nova Fund – BH Digital (based in Abu Dhabi). This follows previous funding of $3.2 million through Maven11, Figment Capital and Binance Labs.

Restaking is quickly becoming a key support for scaling security on Ethereum, but it is complex, risky, and precious, hindering user growth. Built on EigenLayer, Renzo is being built to make restaking accessible and easy, and the new type of financing will expand restaking services.

Renzo serves as a secure and user-friendly interface for the EigenLayer ecosystem, ensuring AVS (Actively Verified Services) and accessing restaking rewards while streamlining the process and allowing secure integrations with node operators.

“Restaking will cover all assets, ETH and ERC-20, as dual staking adoption increases, Renzo is building the settlement layer for restaking,” said Founding Associate Lucas Kozinski.

Renzo allows users to deposit local ETH, stETH, and wBETH (LSTs) and access the EigenLayer. Renzo runs a distributed Ethereum validator infrastructure powered by Figment, P2P.org and Hashkey Cloud to provide unlimited affiliates to Eigenlayer.

Available with over 100 DeFi integrations from Arbitrum, Base, Blast, Linea, Mode and BNB Chain.

“Renzo differentiates itself from other protocols by building its system primarily with restaking in mind, as opposed to classic staking protocols that cater solely to restaking,” said Galaxy Ventures General Partner Will Nuelle. “What sets Renzo apart is its unique ability to accept both native ETH and Liquid Staking Tokens (LSTs). “This capability allows Renzo to enhance collaboration with existing market players and ensures a hassle-free, user-friendly process for associates.”

About Renzo

Renzo is EigenLayer’s restaking hub, created to facilitate and expand access to the smartest Liquid Restaking strategies. Powered by enterprise-class node operators, Renzo eliminates the complexities of securing Actively Authenticated Services (AVS) while providing a powerful interface for risk governance and reward tracking on EigenLayer. With ezETH, Renzo’s most integrated Liquid Restaking Token (LRT), users can broadly access the EigenLayer (and Ethereum) ecosystems with more opportunities to earn rewards. Users can earn more by visiting https://www.renzoprotocol.com/.