Exclusive: Crypto startup LI.FI raises $29 million for cross-blockchain price discovery tool

Core Insights - LI.FI addresses the fragmented landscape of blockchain technology by providing businesses with price comparisons for exchange rates and bridging fees, facilitating efficient and cost-effective transactions [1][2] - The company raised $29 million in funding, bringing its total capital to approximately $52 million, with a focus on enhancing its services for fintechs and other partners [2] - LI.FI has achieved $8 billion in monthly transaction volume as of October, representing a sevenfold increase from the previous year, and is on the path to profitability [3] Company Overview - LI.FI operates as a price comparison and transaction pathfinding service for businesses in the crypto finance sector, likened to a combination of Google Flights and Google Maps [2] - The startup has over 800 partners, including notable names like Robinhood, Binance, and Kraken, which enhances its market presence [2] - The company employs more than 100 individuals and plans to expand its workforce with the new funding [3][4] Future Plans - With the recent funding, LI.FI aims to diversify its transaction domains, including perpetual futures, yield opportunities, prediction markets, and lending markets [4] - The company is focused on providing a single API for fintechs and web3 wallets to streamline trading and cross-chain asset movement [4]