1inch Network Raises $175 Million at $2.25 Billion Valuation for Fintech Industry

1inch Network is a decentralized exchange aggregator, a platform that gets liquidity from various DEXs and provides the platform users with the best prices. 1inch Network is a crypto project behind the DEX aggregator, 1inch app.

The Series B round was led by Amber Group. Besides, more than 50 investors took part in the round. Among them are Jane Street, VanEck, Fenbushi Capital, Alameda Research, Celsius, Nexo, etc. “Our main goal for this fundraising event is to open doors to DeFi for the institutions,” said Sergej Kunz, cofounder.

1inch Network, based in the British Virgin Islands, was launched in 2020 by Anton Bukov and Sergej Kunz. Before that Sergej Kunz was a software engineer at Porsche and Anton Bukov was senior smart contract engineer at NEAR Protocol. As of now, 1inch operates the aggregator that surpassed $100 million in volume only on the Ethereum network, moreover, it is presented on Binance Smart Chain, Polygon among others. With new fundings, the company is going to serve institutional customers such as banks and hedge funds.

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