OpenSwap Manages to Raise $1.5 Million in Latest Funding Round

OpenSwap today announced that funds worth $1.5 million were raised  in its latest round of funding. NGC Ventures and Coin98 Ventures, the prominent VC firms led the latest round of OpenSwap.

BP Capital, Legos Capital, Double Peak Group, Prime Block Capital, Illusionist Group, and All In ventures participated in the last round.

There were also contributions from many investors such as StakeDAO CEO Julien Bouteloup who is a core member at Curve Finance and Flash loans inventor, and Leo Cheng, the founder of CREAM Finance, Ravindra Kumar who founded the Frontier DeFi Aggregation Layer, and Mark Borsten, a blockchain veteran.

The funds generated by OpenSwap will be used for future technical improvements of the platform, such as liquidity queues, the platform’s industry-leading pioneer solution for liquidity.

Roger Lim, the founder of NGC Ventures commented that the team of OpenSwap has been constantly innovating hybrid smart routing and their interchain swaps, and NGC is excited to be the part of their journey. OpenSwap is in good hands with Bruce and Tony at the helm and that they are looking forward to seeing more from them.

Also, Thanh Le, the founder of Coin98 Finance said that his company is thrilled to support the OpenSwap team, contributing their passion and ability to the growth of the ever-changing DeFi space. And as they share the same vision of a multi-chain future, they believe that the team will achieve its goal of making liquidity interaction efficient for the users with the help of its relentless innovations.

The last funding round occurred after the recent partnership of the OpenSwap with multi-chain incubator, launchpad, and swap platform Impossible Finance.

The Impossible Finance team along with the Coin98 have offered the support of a $10,000 worth whitelist allocation campaign which is being hosted by OpenSwap currently ahead of the launch of its $OSWAP token.

OpenSwap’s team aims to provide an intuitive platform and real-time data for the users to make informed decisions and incur zero slippage costs.