Fly
Latest round
- Seed
Last raised
- Sep 2022
Total raised
- $3M
Investors
- 13
About Fly
Magpie Markets Limited dba Fly formerly known as Magpie Protocol operates as a decentralized liquidity aggregation protocol that facilitates cross-chain swaps between various digital assets. The company was formed to address challenges in decentralized finance (DeFi) by improving user accessibility. Its founder has a history in the crypto space, although specific details on prior ventures are not available.Fly offers a decentralized liquidity aggregation protocol designed for fast and efficient cross-chain swaps. Its primary service enables users to execute swaps between various digital assets across multiple blockchain networks without the need to manually bridge assets or access decentralized exchanges (DEXs). By utilizing a generic messaging layer on bridges, Magpie facilitates direct swaps between tokens on different chains, streamlining the user experience and reducing transaction times and associated gas fees.Fly generates revenue primarily through transaction fees associated with cross-chain swaps executed on its platform. The fee structure promotes liquidity and sustainability within the ecosystem, allowing users to benefit from competitive pricing and enhanced rewards for their contributions. Future growth will focus on launching new products and enhancing current services to improve user experience. Additionally, Magpie intends to expand into new markets, targeting regions across North America, Europe, and Asia by 2026.
Who invested in Fly
13 investors across 1 round
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Funding rounds
Seed
Sep 7, 2022
Amount
$3M
Investors
Questions about Fly
Who invested in Fly?
Fly has 13 investors on record across 1 venture round. Sign up free to see every VC on the cap table and the rounds they joined.
How much funding has Fly raised?
Fly has raised 1 venture round. Sign up free to see how much each round raised and the total.
When did Fly last raise money?
Fly's most recent round on record is a Seed, in Sep 2022.
What does Fly do?
Magpie Markets Limited dba Fly formerly known as Magpie Protocol operates as a decentralized liquidity aggregation protocol that facilitates cross-chain swaps between various digital assets.
Which VCs invest in companies like Fly?
Among active investors with capital left to deploy, Radical Ventures, Ribbit Capital, TrueBridge Capital Partners and Tribe Capital back financial services companies at Fly's stage. Their profiles are linked below.
VCs backing financial services startups at Seed
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