LIFI, a leading multi-chain liquidity and data gateway, announced that it has raised over $17 million in a Series A fundraise led by CoinFund and Superscrypt. Bloccelerate, L1 Digital, Circle, Factor, Perridon, Theta Capital, Three Point Capital, Abra, and nearly 20 angel investors also participated in the $17.5 million round.
LIFI Raises $17.5 Million in a Series A Fundraise
“This fundraise is vital to enabling us to execute our vision of a multi-chain future. 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.” – said Philipp Zentner, CEO at LI.FI.
LIFI abstracts the major financial infrastructure to move in and out all positions on all chains. It is the only gateway to access all of decentralized finance (DeFi) and traditional finance (TradFi), helping save valuable time on go-to-market, research, integration, and maintenance overhead in order to avoid sunk costs in this rapidly changing infrastructure environment for developers working on projects including but not limited to dApps, Web3, and other protocols.
The 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 this charge.
“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.” – said Einar Braathen, Investor.
Proceeds from this fundraise will be used to accelerate the development of LIFI’s products across more blockchains, decentralized exchanges (DEXs), cross-chain bridges, and more. It also enhances sales, business development, marketing and other functions. It will also help to better bridge the gap between traditional finance (TradFi) and DeFi in a meaningful way and bring these institutions into the future financial markets.
LIFI has rapidly become a leader in cross-chain liquidity aggregation, processing over 96% of all cross-chain swap activity on MetaMask in just six months, according to data provided by Dune. Additionally, LIFI recently launched Jumper.Exchange, an exchange interface that enables users exchange virtually any asset for any other asset with a single 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. 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.” – said Braathen.
LIFI will present its proposed cross-chain framework at the IEEE’s International Conference on Blockchain and Cryptocurrency Cross-Chain Workshop in Dubai later this year. It provides identification, categorization, and analysis of risk factors inherent in the design, implementation, and operation of such infrastructure. This framework was created in collaboration with ConsenSys with the aim of providing a general toolkit for reasoning about cross-chain protocols.
About LIFI
LIFI is a multi-chain liquidity and data gateway that provides access to nearly 20 blockchains, moving assets through aggregating infrastructure solutions such as cross-chain bridges, relevant data sources and decentralized exchanges, enabling seamless platform-to-platform interoperability. Founded by a team of DeFi experts, Berlin-based LIFI has quickly become a leading liquidity aggregator in the blockchain space.
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