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BitGo, Unchained, and Salt Lending led CeFi funding in Q1, Q2, and Q3, respectively



In a testament to the continued dynamism of Centralized Finance (CeFi), major players BitGo, Unchained, and Salt Lending have spearheaded substantial funding rounds in the first three quarters of 2023, shaping the narrative of financial innovation in the centralized sector.

Salt Lending started the year with an impressive Series A funding round, securing $64.4 million. This injection of capital positions Salt Lending to fortify its presence and offerings in the CeFi space.

This was followed by Auros, a global market maker and investor in the cryptocurrency space, which raised $17 million. Then, CyberX, MetaTime, and Trust Reserve attracted $15 million, $11 million, and $10 million, respectively.

Q2 funding round 

Looking at the second quarter of the year, Binance noted that Unchained, with an impressive figure of $60 million raised in a Series B round, has the highest among all CeFi funds. The next is Growminer, at $48 million. 

Growminer is a crypto project that allows users to earn passive income by staking their favorite cryptocurrencies.

One Trading got $36.4 million, Zodia Custody entered the limelight with a $36 million Series A funding round, while River Financial secured $35 million in a Series B round.

Q3 funding 

With a whopping figure of $100 million, BitGo, a major player in the CeFi landscape, reaffirmed its position as a leader in providing financial services in the centralized space.

This is followed by the MasterCard-backed CeFi platform, hi, which secured $30 million in funding. Hi is a crypto & fiat financial app that brings the two worlds together with debit cards that are customized for each user.

The company collaborated with Animaco Brands in early November to broaden its services. As a result, users gained the ability to both receive and utilize $SAND (the native token of the platform) through the hi Debit Card, expanding the range of transactions and activities they can undertake within the ecosystem.

The other three mentioned by Binance are BitKub, $17.8 million; Flashwire, $10 million; and Patex, $10 million.

Read also; Binance Research: Brine Finance led DeFi funding in Q3

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