LI.FI Raises $17.5 Million in Series A Fundraise
Leading multi-chain liquidity and data gateway LI.FI announced today that it has raised more than $17 million in a Series A fundraise co-led by CoinFund and Superscrypt. This 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.
LI.FI’s Vision of a Multi-Chain Future
“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 crucial financial infrastructure to move in and out of any position on any chain. This allows for access to any decentralized finance (DeFi) token and order flow, and helps traditional finance (TradFi) save valuable go-to-market time.
Industry Experts Believe Future is Bank-Free and Decentralized
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 DeFi become “a trillion-dollar asset pool with over $40 billion in revenue by 2028.” 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 this charge.
Einar Braathen, Investor at CoinFund, said: “We are thrilled to partner with Philipp, Max and the LI.FI team for the journey ahead, and to join the company board. 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 market.”
Funds to Accelerate Development and Bridge Gap Between TradFi and DeFi
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. It will also bolster sales, business development, marketing, and other capabilities; as well helping to better bridge the gap between 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.
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. This framework was created in collaboration with ConsenSys, with a goal of providing a general toolkit for reasoning about cross-chain protocols.
LI.FI is well-positioned to provide the infrastructure necessary to power this bank-free, decentralized future. The company is on track to help shape the world of DeFi and TradFi for the better, and this Series A fundraise is a huge step towards that goal.
This blog post is intended to provide general information about investing in cryptocurrencies and is not intended to constitute financial advice. All investors should seek professional financial advice from a qualified financial advisor before making any investment decisions. Investing in cryptocurrencies is a high risk investment and should only be done after you have researched the topic yourself and understand the risks associated with investing in such assets.