DFlow, a Chicago, IL-based provider of a decentralized payment for order flow (PFOF) protocol, raised $5.5M in funding.
The round was led by Framework Ventures with participation from Coinbase Ventures, Circle Ventures, Cumberland, Wintermute Ventures, Spartan Group, and ZeePrime. Additional individual investors include Flashbots co-founder Stephane Gosselin, Zerion CEO Evgeny Yurtaev, Squads Protocol Co-Founder Stepan Simkin, Sei Co-Founder Jay Jog, Eclipse Foundation Co-Founder Neel Somani, Skip Protocol Co-Founder Maghnus Mareneck, Benedict Brady, Paul Burlage, John Lantz, Gabriel Tan, and Samuel Berman.
The company intends to use the funds to further develop and enhance its protocol, expand its market presence, and onboard more market makers and wallets onto its platform.
Led by Nitesh Nath, Founder and CEO, DFlow is a decentralized payment for order flow (PFOF) protocol that enables wallets and crypto trading applications to sell their flow to best-execution market makers via open and permissionless auctions. With DFlow, wallets can add revenue streams by auctioning retail order flow to best-execution market makers; this ensures that their users receive best prices on their trades, as market makers are required to quote at or better than the best publicly listed price across major centralized and decentralized exchanges.
DFlow previously raised a $2M seed round co-led by Framework Ventures in early 2022.
FinSMEs
25/04/2023