CA-Based DeFi Trading Platform Hashflow Secures $25M in a Series A Funding Round

CA-Based DeFi Trading Platform Hashflow Secures $25M in a Series A Funding Round

The new massive raise will allow the firm, offering MEV-protected trades and ensuring zero slippage, to stay at the top of the market chain.

Hashflow, CA-based decentralized finance (DeFi) trading platform founded in 2021, has recently announced that it secured $25M in a Series A funding round led by prominent crypto-driven investors.

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According to the official announcement issued on July 21st, Hashflow, offering a decentralized exchange (DEX) using a request-for-quote (RFQ) pricing model, will leverage the fresh capital to roll out brand new products, boost its headcount, and develop its product.

Hashflow’s RFQ offers its users access to higher efficiency and security levels, providing lower gas and transaction fees

The fundraiser, which brought the firm’s valuation to $400M, saw participation from crypto exchanges Coinbase and Kraken, as well as Jump Crypto, a crypto arm of trading firm Jump Trading Group, crypto market maker Wintermute, QCP, Altonomy, Electric Capital, Dragonfly Capital, and others.

Varun Kumar, CEO and co-founder of Hashflow, noted that its cross-chain swap product provides numerous opportunities for users using its platform, including the possibility of trading assets without utilizing a bridge. In addition, he stated that the recent raise will allow the company to stay strong despite the current crypto bear market.

Likewise, Kanav Kariya, president of one of the leading investors in the fundraiser Jump Crypto, mentioned that the company was impressed by Hashflow's ability to build such an innovative product with a tight budget in a short period of time. He added:

"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."

The news arrives a year after Hashflow raised $3.2M in a seed round led by Electric Capital and Dragonfly Capital, as it also recently announced its plans for the rest of 2022.

Gyth L. - Crypto Analyst

by Gyth L. - Crypto Analyst, BitDegree


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