Backers include Jump Crypto, Wintermute, GSR, Kronos, and Altonomy, in addition to returning investors Dragonfly Capital, Electric Capital, and more
The latest round highlights deepening interest in Hashflow’s DeFi-native RFQ platform from leading market makers, as institutional capital continues to enter Web3
New capital will be used to scale the product, grow the team, and launch new offerings including structured products
Decentralized finance (DeFi) trading platform Hashflow, founded in 2021, has announced it has raised $25 million in new funding bringing its valuation to $400 million. The round included returning investors Electric Capital, Dragonfly Capital Partners, LedgerPrime, and Balaji Srinivasan, along with crypto-native new investors and market participants including Jump Crypto, Wintermute Trading, GSR, Kronos Research, and Altonomy. Other investors include Coinbase Ventures, Kraken Ventures, Fabric Ventures, Evernew Capital, Spacewhale Capital, and angel investors Meltem Demirors, Anthony Sassano, and Jason Choi. This raise comes just over one year after Hashflow’s seed round of $3.2M was announced in April 2021.
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The capital infusion will enable Hashflow to continue to offer the best DeFi trading experience yet, centered around professional market makers using a request-for-quote (RFQ) model which optimizes for seamless interoperability, guaranteed price execution, and MEV protection. This model also enables the trading of structured products and other asset classes previously considered impossible to trade on DeFi rails. Hashflow plans to offer structured products on its platform in allowed jurisdictions later this year.
“We build, execute, and deliver the products that our users want,” said Varun Kumar, co-founder and Chief Executive Officer of Hashflow. “We’ve already built the best cross-chain swap product in DeFi, where users can trade native assets across chains in one place without using a bridge. We’re extremely excited about the upcoming launches on our product roadmap, and we’re thrilled to announce this new raise which gives Hashflow a strong capital position from which to continue to build and scale – regardless of market conditions.”
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“We are grateful for the confidence placed in Hashflow by our investors and users,” said Vinod Raghavan, co-founder and Chief Operating Officer of Hashflow. “Maximizing liquidity for our users is our prime objective, and to be able to count the best VCs as well as the best market makers in crypto among our investors goes a long way in terms of delivering against that objective.”
“Our team is excited about Hashflow’s one-of-a-kind tech and its impressive growth, which has been achieved within a short window and on a lean budget,” said Kanav Kariya, President of Jump Crypto. “Varun and his team have identified a strong product-market fit that they can now capitalize on with great effect. Hashflow is well-positioned to scale its products and offerings to transform the entire DeFi space.”
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