0x Funding, Investors & Competitors

0x has raised $109M across 3 funding rounds, most recently a $70M Series B in April 2022.

See full 0x profile

Last 0x funding round

$70M

Series B · Apr 2022

Cumulative funding 0x raised

$109M

across 3 funding rounds

Key investors in 0x

  • Greylock
  • Coinbase Ventures
  • Pantera Capital
  • IOSG Ventures
  • Alliance DAO
  • George Burke
  • Nascent
  • James Sowers

0x Overview

About 0x

0x is a Zurich-based open protocol enabling peer-to-peer token swaps on Ethereum and compatible blockchains without intermediaries. The platform powers relayers like Matcha and integrates with DEX aggregators handling billions in monthly volume. Launched in 2017, it pioneered the 0x API for developers building exchange features into wallets and dApps across Base and Polygon.


Founded

2016

HQ

United StatesUnited States

Website

0x.org

Status

Privately held

Customer focus

B2B

Revenue model

Commission

0x Funding History

0x has raised a total of $109M across 3 funding rounds.

0x's first fundraising round was a $24M ico round in June 2017. The most recent completed round was a $70M Series B in April 2022.

0x funding rounds

0x funding rounds
DateStageInvestorsRaisedDeal Summary
Apr 2022Series BGreylock (lead)$70M0x Labs, a decentralized exchange infrastructure provider and founder of the 0x Protocol and ZRX token, raised $70 million in a Series B funding round on April 26, 2022, led by Greylock with participation from Pantera, Sound Ventures, A.Capital, Jump Crypto, OpenSea, Coinbase, Brevan Howard, IOSG Ventures, Reid Hoffman, and Jared Leto. The company previously raised $15 million in a Series A in 2021 led by Pantera and $24 million in a 2017 ZRX token sale. The fresh capital is intended to expand the team, enhance products like Matcha (token search engine), 0x Swap API (multi-chain liquidity service), and 0x Protocol (open-source DEX backbone), and support NFT swaps across chains including Ethereum, Polygon, Fantom, Avalanche, Optimism, BNB Chain, and Celo, with plans for Solana integration. At the time, 0x had facilitated over $158 billion in tokenized value across more than 43 million trades, serving 3.5 million users through integrations with top wallets and apps such as MetaMask, Coinbase Wallet, Polygon Wallet, Brave, dYdX, Zapper, Zerion, and Shapeshift. The protocol powers key platforms, including Coinbase's beta NFT marketplace. 0x Labs positions itself at the forefront of DEX infrastructure for Web3, enabling peer-to-peer trading of cryptocurrencies, DeFi tokens, and NFTs. Greylock Partner Sarah Guo highlighted the early stage of DEX adoption and 0x's role in tokenizing value for seamless exchange. Co-founder Will Warren emphasized prioritizing ecosystem integrators to onboard the next wave of Web3 users, businesses, and institutions toward a tokenized world where value flows freely.
Feb 2021Series APantera Capital (lead); Platinum Capital; Alliance DAO; Nascent; Coinbase Ventures; Nima Capital; Blockchain.com Ventures; IOSG Ventures$15M0x Labs, the team behind the 0x decentralized exchange protocol and ZRX token, raised $15 million in a Series A funding round on February 5, 2021, led by Pantera Capital with participation from Blockchain.com Ventures, Coinbase Ventures, IOSG Ventures, Nascent, Nima Capital, and others including DeFi Alliance and Jump Capital. The funds support scaling the decentralized exchange to global markets, developing Periscope Trading as a DeFi-native trading desk, and expanding the Matcha consumer platform, which aggregated over $2.8 billion in trades in six months. The 0x Protocol powered over $15 billion in total trading volume across more than 250,000 unique traders and dozens of DeFi applications, with its API integrated into platforms like MetaMask and ShapeShift handling $3.5 billion in volume since inception. The protocol generated over $1 million in fees to ZRX holders and market makers via v3 token economics. Matcha ranked fifth among DEXs by trading volume per DeBank, behind Uniswap, SushiSwap, 1inch, and Curve.
Jun 2017ICOVisary Capital; James Sowers; Cardinal Capital; Andreas Schwartz; Nathan Doctor; Genesis One Capital; Simulation Ventures; Infinite Capital; Arvin Bhangu; George Burke; Limitless Crypto Investments$24M-

Who has invested in 0x?

20 investors have backed 0x across its funding rounds, including Greylock, Coinbase Ventures, Pantera Capital, IOSG Ventures, Alliance DAO and George Burke.

Lead investors include Greylock and Pantera Capital.


0x Investors

Investors in 0x by funding rounds participated
InvestorHQRoundsRoleFirst check
Visary CapitalSwitzerlandZug1ParticipantJun 2017
James SowersUnited StatesCheyenne, WY1ParticipantJun 2017
Cardinal CapitalSingaporeSingapore1ParticipantJun 2017
Andreas SchwartzBulgariaVarna1ParticipantJun 2017
Pantera CapitalUnited StatesSan Francisco, CA1LeadFeb 2021
Nathan DoctorUnited StatesUnited States1ParticipantJun 2017
Platinum CapitalUnited StatesSan Francisco, CA1ParticipantFeb 2021
Alliance DAOUnited StatesChicago, IL1ParticipantFeb 2021
NascentUnited StatesUnited States1ParticipantFeb 2021
Coinbase VenturesUnited StatesSan Francisco, CA1ParticipantFeb 2021
Genesis One CapitalHong KongHong Kong1ParticipantJun 2017
Simulation VenturesUnited StatesLake Tahoe, NV1ParticipantJun 2017
Infinite CapitalUnited StatesWest Palm Beach, FL1ParticipantJun 2017

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Acquisitions by 0x

0x has acquired 1 company to date.

Last acquisition by 0x was on May 15th 2025. 0x acquired Flood for undisclosed valuation.


Latest Acquisitions by 0x

Flood
Description
Flood is a DeFi aggregator platform that scans multiple decentralized exchanges to deliver optimal trading prices for supported cryptocurrencies. Users access aggregated liquidity pools through a single interface for swaps, ensuring minimal slippage and best execution rates across protocols like Uniswap and SushiSwap.
HQ CountryUnited States
HQ City
New York City, NY
Deal Date15 May 2025
Valuationundisclosed
EV/Revenue
EV/EBITDA

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Investments by 0x

0x has invested in 3 companies to date.

Latest investment by 0x was on September 9th 2024. 0x invested in t1 (aka t1 protocol) in their $3M Pre-seed round.


Latest Investments by 0x

t1 (aka t1 protocol)
Goldsky
CoWSwap
Description
t1 is a layer-2 rollup protocol settling transactions instantly on Ethereum mainnet. Developed for DeFi and NFT applications, it uses optimistic rollups with sub-second finality and supports EVM-compatible smart contracts. Deployed on testnets in 2023, the protocol integrates with wallets like MetaMask for gasless bridging.
Goldsky is a data infrastructure provider enabling real-time APIs for Ethereum and layer-2 networks. Developers query blockchain data including transactions, balances, and events via SQL pipelines and GraphQL endpoints. The platform processes terabytes daily from sources like Polygon, Optimism, and Arbitrum, powering dashboards and applications for DeFi protocols and NFT marketplaces.
-
HQ CountryUnited StatesUnited StatesPortugal
HQ City
New York City, NY
San Francisco, CA
-
Deal Date9 Sep 202412 Sep 202229 Mar 2022
RoundPre-seedSeedICO
Raised$3M$21M$23M
InvestorsChua Zheng Leong; Connor Howe; a16z crypto; Ali Yahya; Andrea Canidio; Automata Network; Amir Bandeali; Enso Finance; CoWSwap; Benedikt Bünz; danningZhuoxun Yin; Dragonfly; Felicis; Zachary Perret; William Hockey; Shine Capital; Robert LeshnerAtka Capital; Collider; Blockchain Capital; Delphi Ventures; Cherry Ventures; Hart Lambur; Ethereal Ventures; Hack VC; Federico Nitidi; Dialectic; 1kx
Valuationundisclosedundisclosedundisclosed
EV/Revenue
EV/EBITDA

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0x Competitors

0x competitors include listed companies like Block, Coinbase and Circle, and private ones like Ripple, OKX and Kraken.

Public and private companies comparable to 0x
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
RippleUnited StatesSan Francisco, CAPrivate$1.2B-$50B-
BlockUnited StatesUnited StatesPublicly listed$24B$2.2B$46B1.6x
CoinbaseUnited StatesUnited StatesPublicly listed$7.2B$1.8B$46B7.6x
OKXSeychellesVictoriaPrivate$1.9B-$25B13.2x
CircleUnited StatesUnited StatesPublicly listed$2.7B($73M)$22B6.8x
KrakenUnited StatesSan Francisco, CAPrivate$2.2B$531M$21B9.5x

0x Public Comps

0x is still privately-owned, but its public comps include Strategy, Block, Coinbase, Circle, BitMine, Bullish, Galaxy Digital, Hyperliquid Strategies, Sharplink and Securitize.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Strategy$477M($5.4B)149.4x144.4x(13.1x)(12.3x)
Block$24B$2.2B1.7x1.6x18.6x9.4x
Coinbase$7.2B$1.8B6.1x7.6x24.2x27.2x
Circle$2.7B($73M)7.2x6.8x(273.4x)29.6x
BitMine$6M($364M)2308.9x97.4x(38.6x)-
Bullish$245B($727M)0.0x13.5x(6.3x)38.2x
Galaxy Digital$60B($177M)0.1x0.2x(43.3x)(182.6x)
Hyperliquid Strategies$9M-308.0x162.2x--

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Common questions about 0x

When was 0x founded?0x was founded in 2016.
Where is 0x headquartered?0x is headquartered in United States.
Is 0x publicly listed?No, 0x is a private, VC-backed company.
How much funding has 0x raised?0x has raised $109M across 3 funding rounds.
What was 0x's last funding round?0x's last funding round was a $70M Series B in April 2022, led by Greylock.
Who are 0x's investors?0x's investors include Visary Capital, James Sowers, Cardinal Capital, Andreas Schwartz, Pantera Capital, Nathan Doctor, Platinum Capital, Alliance DAO, Nascent, Coinbase Ventures and 10 others.
Which companies are comparable to 0x?Companies comparable to 0x include Ripple, Block, Coinbase, OKX, Circle and Kraken.
How many companies has 0x acquired?0x has acquired 1 company, including Flood.
How many companies has 0x invested in?0x has invested in 3 companies, including t1 (aka t1 protocol), Goldsky and CoWSwap.
What was 0x's last investment?In September 2024, 0x invested in t1 (aka t1 protocol)'s $3M pre-seed round alongside Chua Zheng Leong, Connor Howe, a16z crypto and 8 other investors.

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