Check out the 9-slide pitch deck that helped crypto-exchange startup 1inch Network land $175 million from investors including Sam Bankman-Fried in a Series B funding round
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- Crypto exchange aggregator 1inch just raised $175 million from 50 investors including Alameda, Gemini, and VanEck.
- The firm’s algorithm finds traders the cheapest prices across decentralized exchanges.
- Here’s a look at the nine pitch deck slides 1inch used to smash its initial investment target of $70 million.
The crypto start-up 1inch Network has raised $175 million in its Series B funding round, more than doubling the $70 million that it had initially targeted.
1inch is a decentralized finance (DeFi) aggregator. DeFi aims to remove traditional intermediaries like banks and brokers from financial services by making sophisticated investing products available on a blockchain.
1inch effectively serves as a price comparison website for the space. Its algorithm compares the price of DeFi tokens across exchanges like Uniswap or Balancer.
Investors in the Series B included crypto native firms such as Sam Bankman-Fried’s Alameda Research, crypto financiers Amber Group, and the Gemini exchange, as well as the traditional players Jane Street Capital and VanEck.
“The next $1 trillion of assets entering DeFi will come from institutions rather than retail users, and 1inch would like to facilitate entry for them,” Sergej Kunz, the network’s co-founder, said. “We have already started work in that direction by attracting some key players from the traditional finance markets, and this collaboration will only accelerate over the next few years.”
Kunz and his business partner Anton Bukov developed the first version of the 1inch protocol in May 2019 as participants in a New York hackathon. In two funding rounds last year, they raised $2.8 million from a group led by Binance Labs and then $12 million from investors including Pantera and ParaFi Capital.
“1inch has one of the best teams at the forefront of building bridges between fragmented liquidity pools, providing cost-savings and optimizing price discovery for all participants,” Tiantian Kullander, co-founder and managing partner of Amber Group, said. “We have been truly impressed by the 1inch team’s pace of product innovation and are extremely excited to partner with them.”
Here are the nine pitch deck slides that Bukov and Kunz used to land $175 million of investment for 1inch: