Defi Portfolio Tracking Startup Debank Raises $25M From Sequoia China, Crypto.com, Circle

Defi Portfolio Tracking Startup Debank Raises $25M From Sequoia China, Crypto.com, Circle

The decentralized finance (defi) portfolio monitoring startup Debank raised $25 million from buyers in accordance with an announcement on Tuesday. Following the fairness financing spherical, Debank says it has an total valuation of round $200 million.

Defi Dashboard Debank Raises $25 Million

  • 2021 was a great 12 months for enterprise capital (VC) getting into the crypto and blockchain area. Estimates present that VCs invested roughly $30 billion into the crypto trade. The $30 billion invested in crypto and blockchain is 4 instances bigger than the investments made in 2020.
  • Debank has introduced that simply earlier than the 12 months ends, the defi portfolio monitoring firm raised $25 million in fairness financing from strategic buyers. According to Debank, the financing brings the agency’s total valuation to $200 million.
  • Debank revealed the funding in a tweet on Tuesday, and mentioned the spherical was led by “Sequoia China, adopted by Dragonfly, Hash Global, Youbi, and different angel buyers, together with strategic investments from Coinbase Venture, Crypto.com, Circle, and Ledger.”
  • In addition to the $30 billion in capital raised in 2021, thousands and thousands of {dollars} in investments got to companies concentrating on portfolio monitoring and blockchain knowledge analytics. For occasion, crypto analytics agency Messari raised $21 million, Boston-based Coin Metrics raised $15 million and on the finish of April, Skew analytics was acquired by Coinbase.
  • The digital foreign money change, Crypto.com, additionally tweeted in regards to the funding in Debank on Tuesday. “Crypto.com Capital is worked up to help Debank to convey the subsequent billion customers to Web3,” the corporate mentioned.
  • According to Debank’s web portal, “Debank is evolving into one thing new” and the web site provides “new options are coming quickly.” As of at this time, Debank states that customers can observe 798 protocols throughout 17 completely different blockchains.
  • Debank customers can entry the online portal by way of a Web3 pockets to be able to create a customized profile and it additionally gives a token swap characteristic.
  • Debank additionally faces competitors from Zapper (Zapper.fi), one other defi portfolio dashboard. In August 2020, Zapper raised $1.5 million in a seed spherical led by Framework Ventures and Libertus Capital. Furthermore, in mid-May Zapper raised $15 million in fairness in a Series A led by Framework Ventures.

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