3F Raises $4M to Offer One-Click Leveraged RWA Access

3F, a vault protocol built on the Morpho lending layer, raised $4 million in SAFEs with token warrants, including $750,000 in a pre-seed and $3.3 million in a seed round. The pre-seed round ran from July through November 2025 and the seed round from November 2025 through March 2026. Company valuation was not disclosed. The seed was led by Maven 11, with participation from F-Prime (Fidelity’s venture arm), Susquehanna Crypto, GSR and Gate Ventures. Pre-seed backers included Steakhouse Financial, Rune Christensen and Sam MacPherson. Mathijs van Esch, a general partner at Maven 11, has taken an observer seat on 3F’s board.

3F automates the construction of leveraged positions in tokenized real-world assets. Users pick a supported tokenized asset and a leverage factor, and the protocol arranges short-term bridge financing to acquire the underlying asset, supplies that asset as collateral on Morpho, then borrows stablecoins against the collateral to repay the bridge. “Users select a supported RWA and a leverage factor, and the protocol handles the full position build,” Sonya Kim, co-founder, said.

The product addresses a process known as looping, where traders repeatedly buy an asset, post it as collateral, borrow against it and reinvest to increase leverage. Looping can be executed quickly for crypto-native assets using flash loans, but settlement timelines for real-world assets make the process slow. For a T+1 asset, building a 5x position through roughly 20 loops can take about 20 days to enter and another 20 days to unwind. 3F completes the position build within a single settlement cycle of the underlying asset to reduce manual steps and operational complexity.

At launch, 3F will support JAAA, a tokenized AAA collateralized loan obligation fund managed by web3 asset manager Anemoy, sub-managed by Janus Henderson and tokenized by Centrifuge. The company provided an example showing how leveraged financing can change returns: a tokenized fund yielding 6% financed at 4% can deliver higher leveraged returns at 3–5x leverage.

3F plans to generate revenue through management fees on total capital deployed and performance fees on the leveraged returns it produces. The startup has a six-person team and plans to hire in credit underwriting, technology and security. A private beta opens this week and a broader launch is scheduled for the second quarter of 2026. The new funding will finance product development and the market rollout.

Kim also highlighted trade-offs and risks tied to leverage, including the possibility that yield spreads could narrow if borrowing costs rise, slower entry and exit because of settlement timelines, smart contract and regulatory risks, and exposure to underlying credit events.