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OpenSwap DeFi Hub Secures $1.5 Million in Funding to Develop Pioneering Liquidity Solutions

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Mon, 08/23/2021 - 14:40
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Vladislav Sopov
Both VC veterans and angel investors supported DeFi pioneers with their funds
OpenSwap DeFi Hub Secures $1.5 Million in Funding to Develop Pioneering Liquidity Solutions
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OpenSwap, a one-stop integrated decentralized finances hub, shares the details of its latest investing round that attracted a number of seasoned venture capitalists.

OpenSwap raises $1.5 million, NGC Ventures and Coin98 Ventures co-led the round

According to a press release shared with U.Today, OpenSwap (OSWAP) integrated DeFi hub has completed its latest funding round. In total, its team managed to raise $1.5 million.

VC heavyweights NGC Ventures and Coin98 Ventures led this round while the likes of  BR Capital, Legos Capital, Double Peak Group, Prime Block Capital, Illusionist Group and All In Ventures also contributed to this massive funding.

Also, a clutch of renowned angel investors, including Curve Finance's Julien Bouteloup, CREAM Finance's Leo Cheng and blockchain veterans Ravindra Kumar and Mark Borsten supported OpenSwap as angel investors.

Roger Lim, founder of NGC Ventures, highlighted that VC moguls are excited by both the technical progress of the product and the vision of its team members:

The OpenSwap team has been constantly innovating with their interchain swaps as well as hybrid smart routing, and we at NGC are thrilled to be part of their journey thus far. With Bruce and Tony at the helm, OpenSwap are in good hands and we’re looking forward to seeing more from them.

Partnership with Impossible Finance has been inked

Coin98 Finance founder Thanh Le stresses the importance of this round and the next OpenSwap releases for the progress of the entire decentralized finances segment:

We're excited to back the Openswap team, which has shown their passion and solid ability to grow in this ever-changing DeFi space. Sharing the same vision of a multi-chain future with us, we believe the team will realize their ultimate goal of making liquidity interaction across blockchains the most efficient for users with relentless innovations.

With fresh funding, OpenSwap is going to solidify its stance as a cutting-edge DeFi solutions vendor for both institutions and retail clients. Namely, it will accelerate the development of its patented solution for liquidity, known as liquidity queues.

Related
Impossible Finance Raises $7 Million from 125 VCs, Teases Multi-Chain DeFi Ecosystem Launch

This funding follows OpenSwap's recent partnership with Impossible Finance, a multi-platform DeFi incubator, IEO launchpad and exchange platform.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)