LI.FI raises $17M for its multi-channel DeFi gateway

LI.FIa German startup that develops a multi-channel gateway to facilitate access to the decentralized finance (DeFi)has completed a financing round with CoinFund and Superscrypt.

Based in Berlin, LI.FI believes that finance is heading towards a decentralized and bankless future.

The startup has designed a multi-channel liquidity and data gateway compatible with two dozen networks and enables asset transfer and data sharing by aggregating infrastructure solutions, including cross-chain bridges and DEX.

Earlier this week, LI.FI announced a 17.5 million dollar funding round led by New York investment firm CoinFund and Superscrypt, a Web3 fund launched by Singaporean Temasek.

LI.FI is uniquely positioned not only as the consumer venue of choice for cross-chain transactions, but also as the first stop for developers and traditional institutions. Powering cross-chain transactions for the industry’s largest organizations, such as Metamask and Circle, is a testament to the quality of the team and the product,” commented Einar Braathen, investor at CoinFund.

The series A of the bridge aggregation protocol also has the participation of Bloccelerate, Theta Capital, Abra, Circle or L1 Digital.

This new financing will allow the company to accelerate the development of its gateway with the support of new networks and to strengthen its marketing teams.

LI.FI had already raised $5.5 million in a seed round led by 1kx in July 2022. This second round brings the total funds raised by the startup to $23 million.

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