DeBank closes $25M Equity Round
The portfolio tracker tweeted that Sequoia China led the funding round. Dragonfly Capital, Hash Global, Youbi, and other angel investors participated in the funding round, while Coinbase Ventures, Crypto.com, Circle, and Ledger made strategic investments. With the fresh injection of capital, DeBank hopes to compete against other competitors in the market, such as Zerion and Zapper.In May, DeFi dashboard Zapper received $15 million in a round led by Framework Ventures, and two months later, rival Zerion closed an $8.2 million funding round. It looks like portfolio trackers are a hot business to invest in.
What is DeBank?
DeBank launched in 2019 and is a cryptocurrency wallet that lets you track DeFi data, including decentralized apps or exchanges (DEX) and DeFi interest rates. It also allows users to navigate and manage various DeFi assets and projects. The platform includes analytics for decentralized lending protocols, stablecoins, margin trading platforms, and others.At the time of writing, DeBank allows users to track 798 protocols across 17 chains such as Ethereum, the Binance Smart Chain, Polygon, Fantom, Avalanche, and others.
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