Decentralized finance (DeFi) trading platform Hashflow, founded in 2021, has announced it has raised $25 million in funding “bringing its valuation to $400 million.”
The investment 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.”
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.”
Varun Kumar, co-founder and Chief Executive Officer of Hashflow, said:
“We build, execute, and deliver the products that our users want. 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.”
Vinod Raghavan, co-founder and Chief Operating Officer of Hashflow, said:
“We are grateful for the confidence placed in Hashflow by our investors and users. 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.”
Kanav Kariya, President of Jump Crypto, said:
“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. 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.”
Hashflow recently “launched bridgeless cross-chain swaps and has released its product roadmap for the rest of the year.”
As noted in the update, Hashflow is “a decentralized exchange platform designed for interoperability, zero slippage, and MEV-protected trades.
Founded in San Francisco in 2021,” Hashflow connects institutional market makers “to traders using a novel request-for-quote (RFQ) model.”
In turn, traders and liquidity providers “gain access to enhanced efficiency, security, and products previously impossible in DeFi.”