Business

Ethereum analytics firm Nansen is acquiring DeFi tracker Ape Board

blank

Nansen, the major Ethereum blockchain analytics platform, continues to scale its operations by acquiring a decentralized finance (DeFi) cross-chain tracker.

Nansen has acquired multi-chain portfolio tracker Ape Board in an eight-figure deal, the company announced to Cointelegraph on Tuesday.

The acquisition, completed later in May, will unite teams from the two platforms with the goal of combining Nansen’s analytics and Ape Board’s portfolio tracking to provide an all-in-one intelligence service.

As part of the acquisition, 13 Ape Board employees will join Nansen’s team of 120 analysts, product managers and engineers to collectively deliver the “definitive Information Super-App of Web3.”

“Ape Board becomes the starting point for a new Nansen portfolio tracker. It’s free to use and integrates seamlessly with the rest of Nansen’s features,” a Nansen spokesperson told Cointelegraph.

Nansen was founded in 2019 and named after the scientist and explorer Fridtjof Nansen as the platform focuses on providing data and analytics on the Ethereum blockchain. The platform is backed by a few prominent industry investors such as Andreessen Horowitz and Coinbase Ventures. In 2021, Nansen raised $12 million in a Series A funding round to build a blockchain analytics platform for the DeFi sector.

Ape Board was a perfect fit for Nansen to realize its DeFi ambitions. Launched in 2021, Ape Board aims to provide an aggregator that brings together all DeFi investments on one platform. The platform supports 36 blockchains including Ethereum (ETH), BNB Smart Chain (BNB), Terra (LUNA), Solana (SOL), Binance Exchange and Polygon (MATIC) and 390 protocols.

Related: Robinhood acquires British crypto firm Ziglu to fuel expansion plans

With the acquisition, Nansen aims to pave the way to becoming the leading information super-app for Web3, a company spokesman said, adding:

“The next 12-18 months will likely mark a consolidation phase for crypto. Nansen has a strong war chest and we plan to continue to aggressively grow and build an unrivaled all-in-one market intelligence platform.”

“Receiving data from the cryptocurrency ecosystem, particularly DeFi protocols and blockchains, is complex and fragmented,” said Alex Svanevik, CEO of Nansen. “With this acquisition, we are taking a major step in bringing all the market information that a trader, institution or company needs under one roof,” he added.