Hermez Secures $250 Million in Acquisition Financing on August 13, 2021

MATIC
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According to industry reports, Hermez received $250 million in acquisition financing on August 13, 2021. The acquirer is Polygon, a provider of blockchain scaling solutions. Following this transaction, Hermez's total funding has reached $250 million.Hermez is an open-source ZK-Rollup solution focused on delivering secure, low-cost, and user-friendly token transfer services on the Ethereum network. As a Layer 2 scaling protocol, Hermez is dedicated to addressing Ethereum's scalability challenges by increasing transaction throughput and reducing transaction costs.Polygon's acquisition of Hermez marks a significant milestone in the consolidation of scaling technologies within the blockchain sector. By integrating Hermez's ZK-Rollup technology, Polygon will further strengthen its portfolio of scaling solutions, offering more comprehensive scalability services for the Ethereum ecosystem. This acquisition underscores the industry's emphasis on scaling technologies and highlights the market's urgent demand for high-performance, cost-effective blockchain solutions.

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MATIC Fundraising History
RoundAmountValuationTimeInvestor(s)
M&A$250 M--2021-08-12Polygon
Key Milestones
  • 2021-08-13
    Hermez was acquired by Polygon
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