Dow Protocol raises $9 million seed round for e-commerce working capital RWA platform
Dow Protocol, an RWA platform focused on working-capital advances for e-commerce merchants, said it has closed a $9 million seed round. Participating investors include MH Ventures, OKX Ventures, Animoca Brands, Arcane Group, Essentia Partners, and Quartet Group. The company targets merchants on major global e-commerce platforms and provides financing based on sales receivables and real operating data. According to the announcement, its underlying asset service system is embedded into mainstream e-commerce platforms, allowing direct access to merchants’ original business data for credit assessment and risk control. Dow Protocol also said repayments can be deducted directly from the platform side rather than passing through merchant accounts, a structure it says is designed to control repayment risk at the source. On the funding side, the protocol uses the instant settlement capability of stablecoins to compress traditional lending disbursement processes to as fast as same-day funding. The company positions itself as a general PayFi RWA advance protocol for broad e-commerce use cases, with a framework it says can also extend to supply-chain financing demand across sectors including dining, payments, gaming, and AI computing power.








