Reservoir plans to enhance token trading across multiple blockchains with new capital, backed by major investors and strategic partnerships.
By Temitope Olatunji
Edited by Marco T. Lanz
Updated
3 mins read
Reservoir, a company focused on simplifying digital token trading, has raised $14 million in a Series A funding round led by Union Square Ventures. The crypto infrastructure startup is working to enable the easy transfer of tokens across different blockchains. Its goal is to provide instant liquidity for any token on any chain, opening up new opportunities in finance and culture. The team noted that the fresh funding will help make this vision a reality.
Having already established itself as a leading infrastructure provider for NFT trading—working with platforms like Coinbase, Magic Eden, and MetaMask—Reservoir is now expanding its offerings to support all types of token transactions. The company stated:
“Our team has spent the past three years building best-in-class infrastructure for integrating NFT trading into apps, becoming the platform of choice for Coinbase, Magic Eden, Metamask, Zora, and many others. With a new injection of capital, we’re accelerating the work we’ve been doing on NFT infra and beyond — developing tools to power token trading for apps on every chain.”
The funding round also saw participation from Variant, Archetype, Coinbase Ventures, and Square Peg Capital, among others. Nick Grossman from Union Square Ventures joined Reservoir’s board as part of the agreement. The company began fundraising in mid-2024 and completed the process recently. With the new funding, Reservoir’s total capital raised now stands at $26 million. Prior to this, it secured $10 million in a seed round led by Archetype in late 2022 and $2 million in a pre-seed round led by Variant in 2021.
The company’s product suite includes Relay, which enables instant bridging, swaps, and calls across multiple blockchains, including Solana, Bitcoin, Tron, 42+ EVM chains, and custom rollups; Reservoir Swap for a trusted DEX and token API; and Reservoir NFT for a full NFT marketplace and API.
According to The Block, Peter Watts, founder and CEO of Reservoir, compared the platform to companies like Alchemy and Thirdweb, aggregators such as 1inch and 0x, and bridges like Across and Stargate. However, he explained that Reservoir takes a different approach by combining applications, infrastructure, and protocols in one system. He added that the platform is designed specifically for tokens and trading, with support for thousands of chains instead of just a few major networks.
Nick Grossman, Partner at USV, praised the Reservoir team for making the on-chain experience easier and faster for builders and users. He said:
“As the onchain ecosystem becomes ever more complex, we need tools that make the builder and user experience simpler, faster, and more joyful. This is exactly what the Reservoir team excels at across their suite of tools for bridging, swapping, and other onchain actions. We’re thrilled to support their continued growth with the Series A.”
Reservoir values the trust placed in it by projects like Abstract and Apechain. It added that it is using that experience to build a leading platform for token trading.
Temitope is a writer with more than four years of experience writing across various niches. He has a special interest in the fintech and blockchain spaces and enjoy writing articles in those areas. He holds bachelor's and master's degrees in linguistics. When not writing, he trades forex and plays video games.
