Home News Sequoia China leads $25M equity round for DeBank

Sequoia China leads $25M equity round for DeBank

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Major venture capital firm Sequoia China led DeBank‘s $25 million funding round. Furthermore, the evaluation of the analytical service has reached $200 million.

Thus, Dragonfly, Hash Global, Youbi and other business angels participated in the round. Coinbase Venture, Crypto.com, Circle and Ledger provided strategic investments.

At the time of writing, the service has not disclosed what it will use the raised funds for.

Allowing users to navigate and manage different DeFi assets and projects

Tang Hongbo, a Chinese research and development expert, co-founded DeBank in 2018. Moreover, the executive based in Shanghai’s Jing’an district, according to his LinkedIn page.

DeBank is a cryptocurrency wallet, which aims to track DeFi data. Such as DeFi interest rates and decentralized applications (dApps) or exchanges (DEX). It also allows users to navigate and manage different DeFi assets and projects. Analytics for decentralized lending protocols, stablecoins, margin trading platforms, and other platforms are available on the website.

In addition, DeBank supports hundreds of decentralized finance (DeFi) protocols in the Ethereum, Binance Smart Chain, Fantom, Avalanche, Polygon and others networks.

The DeFi dashboard Zapper raised $15M

In May, the Devi dashboard Zapper raised $15 million following the Series A funding round. Framework Ventures led the round. Mark Cuban, Ashton Kutcher’s Sound Ventures, Coinbase Ventures, Aave founder Stani Kulechov and others also provided funds.

The startup promised to use the received funding to launch a mobile application and a marketplace for developers. According to the head of Zapper, Seb Audet, this will allow the community to quickly implement new functions and keep up with the actively expanding DeFi ecosystem.

Zapper supports 54 protocols, including the ability to add funds to Uniswap, Curve and Balancer pools.

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