DeFi platform Hashflow received $25 million in Series A funding. The main investors were Jump Crypto, Wintermute, and GSR.
Hashflow is a DeFi trading platform that provides bridgeless cross-chain swaps. On July 21, a message appeared on the Hashflow blog that the company received $25 million in a Series A funding round. Now Hashflow’s valuation has reached $400 million.
Founded in 2021 by Varun Vruddhula, a fresh graduate engineer, Hashflow is a hybrid exchange operating in the DeFi segment. It is hybrid in a sense that its transactions are performed by smart contracts but the liquidity is provided by specialist market makers like in centralized exchanges.
The main investors were Jump Crypto, Wintermute Trading, GSR, Kronos Research, and Altonomy. Electric Capital, Dragonfly Capital Partners, LedgerPrime, Balaji Srinivasan, Coinbase Ventures, Kraken Ventures, Fabric Ventures, Evernew Capital, Spacewhale Capital, Meltem Demirors, Anthony Sassano, Tatiana Koffman, and Jason Choi also participated in the funding round.
“This new raise gives Hashflow a strong capital position from which to continue to build and scale — regardless of market conditions. 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.” — Hashflow.
Funding such DeFi projects as Hashflow helps the development of the crypto industry. And this is very good. We continue to observe.