Nansen Acquires DeFi Portfolio Tracker To Boost Web3 Capabilities

Blockchain data analytics platform Nansen has acquired DeFi portfolio tracker Ape Board to bolster its Web3 data capabilities. 

The acquisition, revealed Tuesday at Blockworks’ Permissionless conference, closed earlier this month. Terms of the deal were not disclosed. 

Nansen — which began building its platform in 2019 to help users know more about the wallets that are transacting on-chain — combines on-chain data with a growing database of millions of wallet labels.

Founded last year, Ape Board lists nearly 400 protocols across 33 blockchains and one exchange. Its cross-chain decentralized finance (DeFi) dashboard lets users track their yield-farming assets in each network and automatically calculate their net worth.

The acquisition will help Nansen become the “definitive information super-app of web3,” the company said in a news release. It will also spur the future launch of features, such as portfolio tracking, programmatic access to on-chain data and Web3-native communication.

Nansen CEO Alex Svanevik said obtaining data from DeFi protocols and blockchain is complex and fragmented.

“Across the Web3 landscape, investors are forced to utilize an assortment of different tools in order to obtain a singular piece of data that will help inform their investment strategy,” Svanevik said in a statement. “With this acquisition, we take a big step towards bringing all the market intelligence a trader, institution or business needs under one roof.”

The acquisition follows Nansen’s $75 million Series B funding round in December, which was led by Accel, GIC, a16z, Tiger Global, SCB and 10X. The firm raised $12 million for its Series A in June. 

Svanevik said after the more recent fundraise it would hire more team members and look to do strategic acquisitions. The CEO added that the company would spend 2022 focusing on offering institutional clients access to its on-chain data programmatically.

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