Dow Protocol Secures $10.5M to Advance Working Capital for E-Commerce Merchants

Dow Protocol has secured $10.5 million in seed funding to expand its blockchain-based financing model for e-commerce merchants.

The company provides working capital to merchants against pending receivables using a PayFi RWA model, which automates repayment collection through integrations with e-commerce platforms.

This approach contrasts with traditional merchant financing, which can take 2-3 months and requires lengthy underwriting. Dow Protocol's system allows merchants to receive funds within seconds.

The funding comes as tokenized real-world assets continue to expand across blockchain-based financial markets, with a $7.4 billion growth in RWA deposits during the second quarter of 2026, according to a CoinShares report.