About Reef
Reef is a company based in Dubai (United Arab Emirates) founded in 2020 by Denko Mancheski. It operates as a Blockchain-as-a-Service, and Two-Sided Marketplace. Reef has raised $23.9 million across 2 funding rounds from investors including QCP Capital, Alameda Research and NGC. Reef offers products and services including Reef Chain, ReefSwap, Reef Chain Wallet, and Sqwid. Reef operates in a competitive market with competitors including Consensys, Luno, Amber Group, Matrixport and Abra, among others.
- Headquarter Dubai, United Arab Emirates
- Founders Denko Mancheski
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Sectors
TechnologyFinancial Services
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Phone
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Website
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Social
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$23.9 M (USD)
in 2 rounds
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Latest Funding Round
$20 M (USD), Series A
Mar 12, 2021
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Investors
QCP Capital
& 6 more
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Employee Count
Employee Count
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Products & Services of Reef
Reef offers a comprehensive portfolio of products and services, including Reef Chain, ReefSwap, Reef Chain Wallet, and Sqwid. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
A layer 1 blockchain for decentralized applications.
Platform for token creation and liquidity provision.
Secure wallet for managing Reef blockchain assets.
Platform for minting and browsing NFT collections.
Funding Insights of Reef
Reef has successfully raised a total of $23.9M across 2 strategic funding rounds. The most recent funding activity was a Series A round of $20 million completed in March 2021. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 2
- Last Round Series A — $20.0M
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First Round
First Round
(30 Sep 2020)
- Investors Count 7
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Mar, 2021 | Amount | Series A - Reef | Valuation | Alameda Research |
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| Sep, 2020 | Amount | Seed - Reef | Valuation | NGC , AU21 Capital |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Reef
Reef has secured backing from 7 investors, including institutional and venture fund investors. Prominent investors backing the company include QCP Capital, Alameda Research and NGC. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Blockchain-based startups are funded by NGC venture capital firm.
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Founded Year | Domain | Location | |
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Blockchain sectors are targeted for investments by AU21 Capital.
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Founded Year | Domain | Location | |
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Multiple sectors are invested in via a funds-of-funds approach.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Reef
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Reef
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Reef Comparisons
Competitors of Reef
Reef operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Consensys, Luno, Amber Group, Matrixport and Abra, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Developer of blockchain and web3 software platform
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Mobile app for storing and trading cryptocurrencies is utilized.
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| domain | founded_year | HQ Location |
Blockchain-based financial solutions are offered for crypto trading and payments.
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| domain | founded_year | HQ Location |
App-based platform offering crypto investment products and financial services solutions
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| domain | founded_year | HQ Location |
An app-based platform is offered for cryptocurrency trading and investments.
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| domain | founded_year | HQ Location |
Digital wallet for Bitcoin assets
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Reef
Frequently Asked Questions about Reef
When was Reef founded?
Reef was founded in 2020.
Where is Reef located?
Reef is headquartered in Dubai, United Arab Emirates. It is registered at Dubai, Dubai, United Arab Emirates.
Who is the current CEO of Reef?
Denko Mancheski is the current CEO of Reef. They have also founded this company.
Is Reef a funded company?
Reef is a funded company, having raised a total of $23.9M across 2 funding rounds to date. The company's 1st funding round was a Seed of $3.9M, raised on Sep 30, 2020.
What does Reef do?
Reef is established as a layer 1 blockchain designed for decentralized applications. It is built using the Substrate Framework, ensuring scalability, speed, and affordability. Core applications such as Reef Chain Wallet, ReefScan, and ReefSwap are provided to facilitate user access to blockchain technology. The ecosystem supports DeFi apps, NFT platforms like Sqwid, and community governance through staking and validator nominations. Solutions are tailored for developers to port Ethereum-based Solidity contracts and deploy ERC-20 assets. The platform is governed by a community-elected Technical Council, focusing on upgradability and sustainable on-chain governance.
What products or services does Reef offer?
Reef offers Reef Chain, ReefSwap, Reef Chain Wallet, and Sqwid.
Who are Reef's investors?
Reef has 7 investors. Key investors include QCP Capital, Alameda Research, NGC, AU21 Capital, and Kenetic Capital.
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