Ribbit Capital invested in decentralized …

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FTX Investor Leads $15M . DeFi Startup Investment Round

Decentralized trading platform Slingshot Finance has raised $15 million in Series A funding, DeFi chief Clinton Bembri said on Twitter. Investment firm Ribbit Capital is the lead investor.

  • The round was also attended by venture capital firm K5 Global, Shrug Capital, music group The Chainsmokers, American singer and NFT creator Jason Derulo, Checkout.com founder Guillaume Puzatz and Morning Brew CEO Austin Reef. Existing investors, Framework Ventures and Electric Capital have backed the startup.

  • Slingshot was founded in September 2020. The company has developed a web3 exchange for cryptocurrency trading. The trading platform was launched in May this year. Trading volume on the platform reached $2 billion, said Bembri. According to him, more than 100 thousand crypto wallets are connected to Slingshot Finance.

  • Using the funds raised, the project plans to expand its team and launch a mobile app in the first half of next year. Catapults also want to be more social, Bembri tweeted without giving details.

  • Polygon and Arbitrum have become the company’s blockchain partners, Slingshot plans to increase their number.

  • Slingshot plans to launch the Slingshot 2099 NFT marketplace in January.

Recall that in October Ribbit Capital invested in the crypto exchange of the richest person in the crypto industry FTX.

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