Wombat Exchange Raises $5.25M in Series A Funding

Wombat Exchange

Wombat Exchange, a Hong Kong-based hyper-efficient multichain stableswap backed by Binance, closed a $5.25m Series A funding.

The round was led by Animoca Brands and Hailstone Ventures with additional investors including BNB Chain, TPS Capital, GSR, Zokyo, Lunar Station, Eureka Trading, Silverstone, Unanimous Capital, and CryptoWesearch. With this latest round of funding, Wombat’s valuation has increased to $70m since its seed round investment led by Binance Labs in November 2021.

Capital from this round will accelerate the company’s product development and expansion.

Wombat Exchange is a BNB native multichain stableswap focused on re-engineering the stableswap experience with an innovative algorithm design. The vision is to accelerate DeFi growth and push boundaries with greater capital efficiency, accessibility, and scalability in a multichain world.

FinSMEs

17/03/2022