Wombat Exchange Raises $5.25M in Series A Funding Led by Animoca Brands and Hailstone Ventures -Breaking
Wombat Exchange, a highly-efficient multichain stableswap backed Binance, closed a $5.25 Million Series A financing round, led by Animoca Brands & Hailstone Ventures. BNB Chain was joined by TPS Capital (GSR, Zokyo and Lunar Station), GSR. Silverstone, Unanimous Capital, CryptoWesearch, and Eureka Trading as additional investors.
With this latest round of funding, Wombat’s valuation has increased to $70 million since its seed round investment led by Binance LabsIn November 2021. Capital from this round will accelerate Wombat’s product development and expansion.
“Wombat Exchange has put together a solid and experienced team to develop a stableswap that has the potential to significantly advance the growth of DeFi. We’re looking forward to seeing Wombat’s meaningful contribution to the BNB Chain and its adoption in the multichain world.”
– Yat Siu, Co-Founder & Executive Chairman of Animoca Brands.
“We were impressed by Wombat’s innovation, and we strongly believe in their contribution to the ecosystem. Their algorithm and solution are pioneering and will support the protocols that will shape the future of DeFi for the better.”
– Seng Huang Lee, Hailstone Ventures Advisor & Group Executive Chairman of Sun Hung Kai & Co.
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