DeBank, a crypto wallet that provides access to DeFi services, has raised $25 million in funding in the financing round.
Sequoia China led the funding round Dragonfly Capital, Youbi Capital, Coinbase Ventures, Crypto. com Capital, Circle, and Ledger also participated.
Founded in 2018, China-based DeBank has a current value of $200 million. The total financing of DeBank, which has participated in financing rounds in previously undisclosed amounts, is uncertain.
DeBank did not share any information on how the funds obtained will be used.
DeBank currently provides support for nearly 800 different DeFi protocols on more than 15 blockchains, including Ethereum (ETH), Binance Smart Chain, and Avalanche (AVAX). The platform basically helps users keep track of how much they have invested in which DeFi protocols and how much they have earned.
DeBank also has plans to support Solana and Harmony in the future.
The two most important rivals of the platform stand out as Zapper and Zerion. Zapper raised $15 million in funding last May, while Zerion raised $8.2 million in July.
Crypto firms raised over $25 billion in funding rounds throughout 2021.