XDEFI Wallet secures £4.5m in Series A funding led by Mechanism Capital to scale its multi-chain browser wallet
Mechanism Capital led the Series A round to support new blockchain integrations and product development.
XDEFI Wallet develops a browser extension that provides native support across multiple blockchain networks for decentralized finance and non-fungible token users. The platform integrates with nine different blockchains to offer automated token contract additions and custom gas pricing.
XDEFI Wallet has secured £4.5m in a Series A funding round led by Mechanism Capital. The capital injection also drew participation from DeFiance Capital, Alameda Research, Sino Global Capital, Animoca Brands, Morningstar Ventures, CoinGecko, and several prominent figures in the decentralized finance sector.
The newly secured funds will be allocated towards launching native integrations with Terra and Solana, alongside expanding existing connections to THORChain and Ethereum. The company intends to build out its cross-chain product suite to connect fragmented blockchain ecosystems.
Founded in August 2020, XDEFI Wallet has expanded its headcount from four to 25 employees. The financing follows a closed beta phase involving more than 20,000 users ahead of a scheduled public release in October.
From the founder
"In DeFi and NFTs, speed is alpha. The faster you can get into a mint, the faster you can move across chains, the faster you can sign a transaction – these things determine your ability to seize an opportunity or not. XDEFI Wallet has been built to give DeFi users a speed edge."
Emile Dubié
CEO at XDEFI Wallet
Investor perspective
"The crypto landscape has gone through immense change in the last year through the explosion of DeFi, NFTs, and Multichain ecosystems. We are excited to back the XDEFI team, which built a beautiful product for users to take full advantage of the true Web3 experience."
Andrew Kang
General Partner, Mechanism Capital
Use of funds
- 01Continue product development
Investors
Andrew Kang
Mechanism Capital
DeFiance Capital
Alameda Research
Sino Global Capital
Animoca Brands
Morningstar Ventures
CoinGecko
Categories
About the company
XDEFI Wallet
XDEFI Wallet builds a multi-chain browser wallet designed for decentralized finance and non-fungible token participants.