Decentralised finance: Mangrove raises $7.4 million

27.02.2023
Decentralised finance: Mangrove raises $7.4 million
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Created in 2021 by French researchers, the protocol is designed to improve the allocation of liquidity in decentralised finance.

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Who knows Mangrove? Not many. But in the world of "Defi" (decentralised finance), the protocol of French origin is clearly one of the rising stars.

The project has just raised $7.4 million in Series A from several large investors, including the American Cumberland and the German Greenfield Capital, which has invested in Nym and Immortal Game, among others. Mangrove had already raised $2.7 million in 2021 from the UK's Wintermute Ventures, France's Stake Capital and others.

The valuation of Mangrove is still confidential.

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Raphaël Bloch

Raphaël Bloch is CEO and co-founder of The Big Whale, an independent market intelligence platform on digital assets serving financial market participants through editorial coverage, research, a weekly briefing, and in-person events. He co-founded The Big Whale in April 2022. At the platform, he moderates and hosts institutional events bringing together banks, asset managers, custodians, and infrastructure providers on topics including staking, on-chain yield, stablecoins, DeFi lending, and tokenisation. He has moderated panels at events hosted in partnership with Bitwise, Everstake, Gemini, Morpho, Hexarq, Coinhouse, Delubac, Franklin Templeton, and the Ethereum Foundation, held in London and Paris between late 2025 and mid-2026.

Before founding The Big Whale, Bloch worked as a reporter at Les Echos from December 2016 to March 2020, then at L'Express from March 2020 to March 2022. He also previously worked at Reuters. Since September 2022, he has held a concurrent role as Business Analyst at BFM Business. He has been active in crypto journalism since 2016. He holds degrees from emlyon and the CFJ.

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