Florida-based business-to-business (B2B) fintech company Janover has announced a new strategy to begin stacking crypto, creating a reserve for these digital assets. The plan involves an initial Solana (SOL) purchase supported by a $42 million capital raise.
Janover Raises $42M to Invest in SOL
The company conducted a private offering and secured $42 million through convertible notes and warrants from investors, including Pantera Capital and Kraken. The notes carry an annual interest rate of 2.5%, are paid quarterly, and are set to mature on April 6, 2030.
These notes will become convertible into common stock once Janover’s market capitalization reaches $100 million. The company noted that the funds are explicitly dedicated to acquiring crypto assets, initially focusing on purchasing SOL through United States public markets.
Janover intends to be a validator in the Solana network and engage in staking operations to earn rewards and increase its exposure to SOL. The recent development is followed by plans to rebrand Janover to “DeFi Development Corporation” to reflect its focus on bridging traditional and decentralized finance sectors.
Why the Sudden Interest in Crypto?
Interestingly, Janover primarily connected commercial mortgage borrowers with lenders before now. While the company focused on financing solutions for commercial real estate and small businesses, available data shows it had not engaged in crypto-related activities before.
However, things are about to change, as a recent announcement disclosed that the former Kraken team acquired the majority of company ownership. The company’s new leadership team introduced initiatives to pivot toward incorporating digital assets, starting with Solana (SOL) and adopting a digital asset treasury strategy.
Solana Gains Exposure
Solana has recently experienced more prominence, driven by several major developments. In March 2025, President Donald Trump announced the inclusion of Solana in a proposed U.S. strategic crypto reserve. The SEC has acknowledged multiple SOL ETF applications from Fidelity, 21Shares, and Canary Capital, indicating a growing institutional interest in Solana.
Grayscale recently filed an S-1 form with the SEC to list a Solana ETF on the New York Stock Exchange. Meanwhile, Solana Mobile announced that its Web3 smartphone, the Seeker, will begin shipping in the summer of this year. At press time, the crypto traded at $107, reflecting a 63% decline from its all-time high earlier this year.
