Wombat Exchange Raises $5.25M in Series A Funding Led by Animoca Brands
The funding will be used to continue the development and expansion of the stableswap.
Raising Funds
Wombat Exchange, a hyper-efficient multi-chain stableswap backed by Binance, has successfully closed a $5.25 million Series A funding round led by Animoca Brands. Additional investors in the round included BNB Chain, TPS Capital, GSR, Zokyo, Lunar Station, Eureka Trading, Silverstone, Unanimous Capital, and CryptoWesearch.
With this latest round of funding, Wombat’s valuation has increased to $70 million since its seed round investment led by Binance Labs in November 2021. Capital from this round will accelerate Wombat’s product development and expansion.
Words From Wombat Investors
The investors in the stableswap had many positive things to say about their investment.
“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, said in a statement.
About Wombat Exchange
Wombat Exchange is a BNB native multichain stableswap focused on re-engineering the stableswap experience through its algorithm design. Wombat’s vision is to fuel DeFi growth and push boundaries with greater capital efficiency, accessibility, and scalability in a multichain world.
Wombat’s success in the Binance Incubation Program was followed by the Binance BNB Chain Most Valuable Builder Season 4 Incubation Program, where it had the pleasure of being one of the monthly stars for January.
For more information about Wombat Exchange, visit the following links:
