DEX Aggregator ParaSwap Raises $2.7M Seed Round From Deep Roster of Crypto Investors

ParaSwap has raised $2.7 million in seed funding from 32 investors including Blockchain Capital, Alameda Research, CoinGecko and more.

By Jaspreet Kalra

Sep 17, 2020 at 11:00 a.m. UTC

Updated Sep 14, 2021 at 9:57 a.m. UTC

juliette-g-bmBLu_oAEj8-unsplash — Paraglider takes flight (Juliette G./Unsplash)

Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.

Secure Your Seat

Jaspreet Kalra

Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.

Secure Your Seat

ParaSwap, a decentralized exchange (DEX) aggregator, has completed a $2.7 million seed funding round joined by some of the industry's top investors.

France-based ParaSwap hopes its API will become the connective tissue between various decentralized finance (DeFi) applications, founder Mounir Benchemled told CoinDesk via email.
“The API does not only allow access to DEXs but also to other DeFi services such as Aave and Compound,” Benchemled said.
According to a press release Thursday, ParaSwap raised the seed funding from a total of 32 investors including Blockchain Capital, Alameda Research, Arrington XRP Capital, Coinfund, CoinGecko, Aave founder Stani Kulechov and others.
While ParaSwap was started as a DEX aggregator, Benchemled said the firm shifted focus in late 2019 to fine-tuning its API and making the platform an easy-to-use entry point for DeFi applications, traders and wallets.
“Our next steps are growing the team and scaling ParaSwap’s infrastructure so that we can support our next business challenges,” he said in the release.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Jaspreet Kalra

Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.

Jaspreet Kalra