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.

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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.

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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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