DEX Aggregator 1inch Closes $12M Investing Round led by Pantera Capital
iHodl.com
Main page News, DEX, Startups, Crypto Market, Cryptocurrency, Institutional Investors, DeFi
Hot topic
Dec. 2, 2020
66 66

1inch.exchange, a decentralized cryptocurrency exchange (DEX) aggregator, has announced a closure of a $12 million funding round led by Pantera Capital and other institutional investors, including ParaFi Capital and Nima Capital.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

According to an official announcement, the raised funds will be used to develop a variety of 1inch products, hire new employees and expand the project's vision into new markets. Sergej Kunz, Co-Founder and CEO of 1inch, says the developers team is working on several more products in the pipeline, which it will reveal soon.

"Thanks to the recently raised funds, we will be able to develop cutting-edge solutions that will really make a difference in the DeFi space," Kunz added.

Paul Veradittakit, a partner at Pantera Capital, claims the investment firm knows the value of using 1inch’s platform to access the best prices and liquidity across DEXs. The full list of investors in this round includes:

  • Pantera Capital;
  • ParaFi Capital;
  • Nima Capital;
  • LAUNCHub Ventures;
  • Spark Capital;
  • gumi Cryptos;
  • Fabriс Ventures;
  • Struck Capital;
  • Rockaway Blockchain Fund;
  • Spartan Capital Securities;
  • Blockchain Capital;
  • Josh Hannah;
  • Kain Warwick;
  • Alexander Pack.

Earlier in November, MyEtherWallet added support for 1inch. The service now allows users to use the DEX platform directly in MEW users’ wallets.

Binance Labs Leads 1inch $2.8M Funding Round

MEW's Founder and CEO, Kosala Hemachandra, says the service decided to integrate 1inch as the project has built a DEX aggregator that embodies "some of the best aspects of decentralization."

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.

Read also:
Please describe the error
Close