DeFi Portfolio Tracking Firm DeBank Raises $25M in Round Led by Sequoia China

The latest funding brings DeBank’s valuation to $200 million, according to the firm.

AccessTimeIconDec 28, 2021 at 2:42 p.m. UTC
Updated Dec 28, 2021 at 4:56 p.m. UTC

Tanzeel Akhtar is a reporter based in London,UK.

Decentralized finance (DeFi) portfolio firm DeBank has raised $25 million in a funding round that was led by venture capital firm Sequoia China. DeBank allows users to track and analyze their DeFi investments.

  • DeBank tweeted Tuesday that the funding round brings the firm’s valuation to $200 million.
  • Other participating investors included payments company Circle, Coinbase Ventures, Crypto.com, Dragonfly Capital, Hash Global, crypto infrastructure company Ledger and Youbi Capital.
  • Crypto.com confirmed the funding round in a separate tweet, adding it is excited to be supporting DeBank as it aims to bring the next billion users to Web 3.
  • There has been increased investment in Web 3-related businesses that promote decentralized protocols and aim to reduce the dependence on large tech companies such as Amazon, Facebook and Google.
  • In May DeFi dashboard Zapper raised $15 million in a fundraising round led by Framework Ventures, and two months later rival Zerion completed an $8.2 million funding round.
  • DeBank didn’t elaborate what the funding will be used for and didn’t respond to CoinDesk’s request for comment by press time.

UPDATE (Dec. 28, 16:10 UTC): Adds Zapper, Zerion fundraising efforts in penultimate bullet point.

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.

CoinDesk - Unknown

Tanzeel Akhtar is a reporter based in London,UK.

CoinDesk - Unknown

Tanzeel Akhtar is a reporter based in London,UK.

Trending

1
CoinDesk - Unknown
‘Crypto: The Musical’ Aims for Broadway

“Crypto: The Musical” is being developed by the creative team behind the Ratatouille TikTok musical – because of course it is.

CoinDesk - Unknown
2
CoinDesk - Unknown
Three Execs Leave JPMorgan this Week to Join Crypto Firms

The latest leavers are former JPMorgan managing director Eric Wragge and digital innovation lead Puja Samuel.

CoinDesk - Unknown
3
CoinDesk - Unknown
Bitstamp Inactivity Fee Canceled After Customer Response

The crypto exchange had said it would be charging small, non-active accounts 10 euros per month.

CoinDesk - Unknown
4
CoinDesk - Unknown
Crypto News Roundup for July 6, 2022

With crypto markets trading in the green and a look at crypto job satisfaction just as the crypto winter began, CoinDesk’s “Markets Daily” is back with the latest news roundup.

CoinDesk - Unknown