FinTech news in Uniswap category

Uniswap Labs has raised $165 million in a new funding round as the parent firm of the world largest decentralized exchange looks to broaden its offerings. The funding — one of the largest Series B for a crypto firm this year — comes at a time when the market downturn has eroded investors’ appetite for writing new checks. One of the new offerings will allow customers to trade NFTs on Uniswap from a number of marketplaces and another is a wallet, according to people familiar with the matter. VC investment in crypto startups declined 37% year-on-year in the quarter that ended in September to $4.44 billion, the industry’s lowest level in more than a year, according to PitchBook.

Uniswap Labs is in early stages of putting together a new round, according to four sources familiar with the matter, as the parent firm of the world largest decentralized exchange gears up to broaden its offerings. One of the new offerings will allow customers to trade NFTs on Uniswap from a number of marketplaces, Uniswap Labs COO Mary-Catherine Lader told news outlet Decrypt. Uniswap Labs, which counts a16z and Paradigm among its existing backers, raised its last funding round — a Series A — in August 2020, according to Web3 Signals. The startup is engaging with a number of investors, including Polychain and one of Singapore’s sovereign funds, to raise an equity round of $100 million to $200 million at a valuation of about $1 billion, two of the sources said, who, like others, requested anonymity sharing private information.