Zug, Switzerland, June 3, 2021 — Impossible Finance, a recently-launched project building a comprehensive DeFi incubator, launchpad and swap platform, raises over $7M from over 125 institutional and angel investors.
The round was co-led by True Ventures, CMS Holdings, Alameda Research, and Hashed. Other funds who joined the round include Sino Global Capital, IOSG, Divergence, GBV, mgnr.io, Lemniscap, Primitive, Incuba Alpha, BR Capital, Coin98, Ternary Capital, The LAO, Maple Leaf Capital and others.
A number of individual angel investors also participated, including Sandeep Naiwal (Matic), Kain Warwick & Jordan Momtazi (Synthetix), Bette Chen & Ruitao Su (Acala), Bobby Ong & TM Lee (Coingecko), Larry Cermak (The Block), Calvin Liu (Compound), and others.
Impossible Finance is building a multi-chain ecosystem for promoting growth of DeFi liquidity and composability. Starting on Binance Smart Chain, Impossible Finance plans to also support Ethereum and Polygon, with more deployments scheduled on future L2 solutions and other platforms. Impossible will also offer an AMM liquidity protocol which acts as the backbone of the ecosystem that features a fully decentralized incubator and launchpad for new projects in DeFi.
Through the incubator, Impossible Finance will offer support and assistance for prospective crypto builders. The project has been launched by DeFi veterans and avid hackathon participants, including Calvin Chu, formerly of Binance Research. Calvin's experience in leading Binance Staking across 30 blockchains and supporting project diligence for Binance Launchpad sets the tone for Impossible’s guidance in helping projects launch. Furthermore, incubated projects will be able to leverage Impossible’s liquidity and cross-chain support to ensure a successful launch on the market.
“CMS is excited to help support Impossible.Finance’s mission of being an accelerator in the DeFi ecosystem,” said CMS Intern (@CMSIntern) at CMS Holdings. “Creating a YCombinator-esque platform for teams building in decentralized finance will help take the ideas of developers and materialize them into working products. We see them as an obvious leader in this space and think they will ultimately turn the potential of DeFi applications into reality.”
“The entire Impossible community is really excited to bring on such a diverse and impressive army of builders, angel investors, and strategic DeFi and trading-focused funds to help create the next generation of blockchain projects,” said Calvin Chu, builder at Impossible Finance. “Even the ‘livepaper’ garnered over 400 edits from the top builders and investors in this space, and the Impossible community can’t wait to provide the same type of support to the projects that launch through the Impossible incubator.”
About Impossible Finance
Impossible Finance is a multi-chain incubator, launchpad, and swap platform. Built by DeFi veterans from Binance & other top fintech firms, Impossible offers a robust product-first ecosystem that supports and launches top-tier blockchain projects to targeted user audiences.
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