Quick take:
- The fundraising also attracted participation from Mirana Ventures and L2IV.
- As part of the investment, Blockchain Capital GP Spencer Bogart joined OneBalance’s board of directors.
- The Series A round brings the total raised to $25 million.
OneBalance has raised $20 million in a Series A funding round led by CyberFund and Blockchain Capital, with participation from Mirana Ventures and L2IV. The fundraising brings the total raised by the cross-chain infrastructure developer to $25 million, following a $5 million seed round announced in June 2024.
As part of the investment, Blockchain Capital general partner Spencer Bogart joined OneBalance’s board of directors.
The company plans to use the fresh capital to expand its team and revamp its product toolkit. OneBalance’s suite of products is designed to improve the user experience of web3 products. By integrating its product toolkit, developers can enable seamless cross-chain transactions for users.
Commenting on the announcement, OneBalance CEO and co-founder Stephane Gosselin said in a statement: “Stablecoins are quickly replacing bank accounts and bringing millions of users on-chain. They expect delightful experiences, not a maze of chains, wallets, bridges to navigate through to complete the most basic actions.”
With OneBalance, users can transfer assets or earn yield without having to monitor bridges or gas fees. The company is on a mission to “fix” the transactional friction created by the fragmentation of blockchain networks, wallets and bridges.
“OneBalance fixes this by offering simple one-click experiences for any chain, any action and any token with unmatched speed, reliability, and cost. We’ve rethought blockchain development from the node up to maximize value creation for users instead of the status quo of retail extractable value,” Gosselin added.
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