Hashflow, a San Francisco, CA-based Decentralized finance (DeFi) trading platform, raised $25m in funding.
The round, which brought the valuation to $400m, included returning investors Electric Capital, Dragonfly Capital Partners, LedgerPrime, and Balaji Srinivasan, along with crypto-native new investors and market participants including Jump Crypto, Wintermute Trading, GSR, Kronos Research, and Altonomy. Other investors include Coinbase Ventures, Kraken Ventures, Fabric Ventures, Evernew Capital, Spacewhale Capital, and angel investors Meltem Demirors, Anthony Sassano, and Jason Choi.
The company intends to use the capital to expand operations and its development efforts to offer the best DeFi trading experience, centered around professional market makers using a request-for-quote (RFQ) model.
Led by Varun Kumar, co-founder and Chief Executive Officer, and Vinod Raghavan, co-founder and Chief Operating Officer, Hashflow is a decentralized exchange platform designed for interoperability, zero slippage, and MEV-protected trades. It connects institutional market makers to traders using a novel request-for-quote (RFQ) model. In turn, traders and liquidity providers gain access to enhanced efficiency, security, and products previously impossible in DeFi.
The company plans to offer structured products on its platform in allowed jurisdictions later this year.