LI.FI, a leading multi-chain liquidity and data gateway, announced on Thursday that it has raised more than $17 million in a Series A round of funding. The funding was led by CoinFund and Superscrypt, with participation from Bloccelerate, L1 Digital, Circle, Factor, Perridon, Theta Capital, Three Point Capital, Abra, and nearly 20 angel investors.
LI.FI is a platform that abstracts away critical financial infrastructure to enable easy movement in and out of any position on any chain. It serves as the single gateway to access all decentralized finance (DeFi) and helps traditional finance (TradFi) save valuable time, research, integration, and maintenance overhead. This enables developers working on projects such as dApps, Web3, and other protocols to avoid sunk costs in this fast-changing infrastructure environment.
The funding will be used to accelerate LI.FI’s offering across more blockchains, decentralized exchanges (DEXs), cross-chain bridges, and other platforms, as well as to strengthen sales, business development, marketing, and other capabilities. The platform aims to bridge the gap between TradFi and DeFi and help onboard institutions to the financial markets of the future.
LI.FI has become a leader in cross-chain liquidity aggregation, handling more than 96% of all cross-chain swap activity on MetaMask in just six months, according to Dune data. The platform recently launched Jumper, a feature that allows users to move assets between chains more quickly and easily.
Later this year, LI.FI will present a proposed cross-chain framework at the IEEE’s International Conference on Blockchain and Cryptocurrency Cross-chain Workshop in Dubai. The goal is to provide a high-level systematic overview of the security risks in cross-chain protocols and provide a general toolkit for reasoning about cross-chain protocols. The framework was developed in collaboration with ConsenSys.
LI.FI is a multi-chain liquidity and data gateway that provides access to nearly 20 blockchains, enabling asset movement and data sharing by aggregating infrastructure solutions such as cross-chain bridges, relevant data sources, and DEXs, allowing platforms and users to interact seamlessly. With this funding round, LI.FI is poised to continue its growth and become a major player in the DeFi space.
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