Berlin (ots/PRNewswire) - Fundraise comes as financial firms continue
to expand usage of Web3 and decentralized finance (DeFi) protocols
LI.FI, the leading multi-chain liquidity and data gateway, announced
today that it has raised more than $17 million in a Series A
fundraise co-led by CoinFund and Superscrypt.
The round, which totalled $17.5 million, also includes participation
from Bloccelerate, L1 Digital, Circle, Factor, Perridon, Theta
Capital, Three Point Capital, Abra, and nearly 20 angel investors.
"This fundraise is vital to enabling us to execute our vision of a
multi-chain future," said Philipp Zentner, CEO at LI.FI. " Our goal
is to enable access to any token and order flow across any chain,
trading on any venue, in a seamless manner that helps bring the next
one billion users to Web3."
LI.FI abstracts away the most crucial financial infrastructure to
move in and out of any position on any chain — the one gateway to
access all decentralized finance (DeFi), which helps traditional
finance (TradFi) save valuable go-to-market time, research,
integration, and maintenance overhead, to avoid sunk costs in this
fast-changing infrastructure environment for developers working on
projects including but not limited to dApps, Web3 & other protocols.
This raise comes after recent research from Bernstein revealed that
many market experts believe finance is headed toward a "bank-free,
decentralized future" that will see decentralized finance (DeFi)
become "a trillion-dollar asset pool with over $40 billion in revenue
by 2028." The report went on to say that a "far more sustainable,
scalable, transparent [business] with improving token economics,"
will see a revival of the industry.LI.FI is in prime position to lead
"We are thrilled to partner with Philipp, Max and the LI.FI team for
the journey ahead, and to join the company board," said Einar
Braathen, Investor, CoinFund. "Philipp and Max are a special breed of
founders with incredible vision and execution capabilities; they've
effectively created a new category in bridge and liquidity
aggregation and produced phenomenal early growth, despite the bear
The proceeds from this fundraise will be used to accelerate
development of LI.FI's offering across more blockchains,
decentralized exchanges (DEXs), cross-chain bridges, and more; and
also to bolster sales, business development, marketing, and other
capabilities; as well helping to better bridge the gap between
traditional finance (TradFi) and DeFi in meaningful ways that help
on-board these institutions to the financial markets of the future.
LI.FI has quickly become a leader in cross-chain liquidity
aggregation, quickly rising to handle more than 96% of all
cross-chain swap activity on MetaMask, according to data supplied by
Dune, in just six months. Additionally, LI.FI recently launched
Jumper.Exchange, a cutting edge multi-chain exchange interface that
enables qualified users to swap virtually any asset for any other
asset, with just one click.
"As we welcome an increasing number of builders and users to Web3,
infrastructure to abstract away cross-chain transactions and
liquidity aggregation is critical for adoption," said Braathen. "LiFi
has a unique position as not only the go-to place for consumers for
cross-chain transactions, but also the first stop for developers and
traditional financial institutions. Powering cross-chain transactions
for the largest organizations in the industry, such as Metamask and
Circle, is a testament to the quality of the team and the product."
LI.FI also will introduce later this year at the IEEE's International
Conference on Blockchain and Cryptocurrency Cross-chain Workshop in
Dubai a proposed cross-chain framework meant to provide a high-level
systematic overview of the security risks in cross-chain protocols by
identifying, classifying, and analyzing the risk elements inherent in
the design, implementation, and operation of such infrastructure.
This framework was created in collaboration with ConsenSys, with a
goal of providing a general toolkit for reasoning about cross-chain
LI.FI is a multi-chain liquidity and data gateway that provides
access to nearly 20 blockchains, enabling the moving of assets and
sharing of data by aggregating infrastructure solutions including
cross-chain bridges, relevant data sources, and decentralized
exchanges, which allows for seamless interoperability for platforms
and users. Based in Berlin, LI.FI was founded by a team of DeFi
experts and has quickly grown to become the leading liquidity
aggregator in the blockchain space.
To learn more about LI.FI, visit https://li.fi
Digital press kit: http://www.ots.at/pressemappe/PR169444/aom
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