"When businesses decide to engage with crypto, they quickly discover the landscape is fragmented across numerous blockchains. If they want to move assets between different chains, they must often rely on a technology called bridging that can prove insecure and expensive. Philipp Zentner, cofounder and CEO of LI.FI, created his company to address these issues. The startup provides businesses with price comparisons of exchange rates and bridging fees. It also aims to find businesses the most efficient and cost-effective pathway for each transaction."
"Zentner did not disclose the company's valuation. "You can think of us like a combination of Google Flights and Google Maps," he said in an interview with Fortune. "[We're] a competitive price comparison and transaction pathfinding for businesses in crypto finance." The startup has more than 800 partners, including Robinhood, Binance, and Kraken. The company says that its value proposition is that its service allows companies to go to market faster and saves them time on research, integration, and maintenance."
LI.FI provides businesses competitive price comparisons of exchange rates and bridging fees plus pathfinding to identify the most efficient, cost-effective transaction routes across fragmented blockchains. The company raised $29 million in a round led by Multicoin and CoinFund, bringing total capital to about $52 million, while its valuation remains undisclosed. LI.FI partners with fintechs, brokerage apps, trading desks, wallets, and neobanks and counts more than 800 partners including Robinhood, Binance, and Kraken. The company is profitable, earns revenue through transaction fees, processes about $8 billion in monthly transaction volume as of October, and has over 100 employees.
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