Fundraising Fox

Slingshot

Acquired

13 known investors

Mobile-first cross-chain crypto trading app acquired by NFT marketplace Magic Eden in April 2025.

Also known as Slingshot · Slingshot Finance

Founders & leadership

ZCZak Cole
Zak Colein𝕏FounderAngel

Investors · 13

Also in the syndicate · 3

1916 EnterprisesDorm Room FundKey Partners Group

Funding

SEC filings, press & company announcements

Source: company announcements and press reports — follow each round's link for the claim.

Company profile

researched Aug 2026

Slingshot (slingshot.finance) is a mobile-first cryptocurrency trading application that lets users buy and sell tokens across multiple blockchains. The app provides real-time listings for more than 5 million tokens and supports trading across more than 10 blockchains without requiring users to manually bridge assets between networks. Onboarding features include email login and fiat on-ramps such as Apple Pay.

The product sits closer to decentralized finance than to a centralized broker, but abstracts cross-chain complexity away from the user by performing routing and calculations on the back end; Magic Eden CEO Jack Lu described the experience as feeling like trading on Coinbase while covering every chain and asset. In April 2025 Magic Eden announced it had acquired Slingshot to expand from NFTs into fungible token and meme coin trading, with Slingshot expected to add support for Runes (Bitcoin-based meme coins) in the following weeks. Magic Eden said Slingshot would continue to operate as its own team for the time being, with Slingshot CEO Clinton Bembry reporting to Magic Eden's chief product officer, Zhuoxun Yin.

Business model

Consumer-facing crypto trading application offering cross-chain swaps of tokens and NFTs through a retail-oriented mobile app; the sources do not describe how the company charges for the service.

Traction

Reported to have attracted nearly one million users since launch as of April 2025, with real-time listings for over 5 million tokens across more than 10 blockchains.

Latest developments

On 9 April 2025 Magic Eden announced its acquisition of Slingshot; terms were undisclosed, with consideration described as a mix of equity and Magic Eden's $ME token, and negotiations reported to have run from about January to April 2025. Slingshot was expected to add support for Runes, Bitcoin-based meme coins, in the weeks after the deal.

Full profile — market position, technology, go-to-market, history

Market position

Positioned as a DeFi-adjacent alternative to centralized exchanges such as Coinbase; following the acquisition it forms the fungible-token trading arm of Magic Eden's "one platform, all chains, all assets" strategy.

Cross-chain trading without manual bridging, breadth of token coverage (over 5 million tokens across more than 10 chains), and a beginner-friendly mobile interface with email login and Apple Pay fiat on-ramps.

Technology

Cross-chain trading infrastructure that executes swaps across more than 10 blockchains without users manually bridging assets, with routing and cross-chain calculations handled on the back end and real-time listings for over 5 million tokens.

Go-to-market

Retail crypto traders, including beginners, who want to trade tokens across multiple chains; onboarding supports email login and fiat on-ramps such as Apple Pay.

History

Fortune, citing PitchBook data, reports that Slingshot was valued at $84 million in 2022. In April 2025 the company was acquired by Magic Eden and continued to operate as a distinct team under Magic Eden, led by CEO Clinton Bembry.

Compiled by commissioned research from 3 cited public sources — announcements, filings, and press listed under research sources below.

Key figures

latest reported
Blockchains supportedApr 202510 blockchains
Tokens with real-time listingsApr 20255,000,000 tokens
Users since launchApr 20251,000,000 users
Valuation (2022, per PitchBook data cited by Fortune)Jan 2022$84M

Company-reported or press-reported figures, each dated to when it was claimed — not independently audited.

Timeline · 1

launches, deals, and filings
Apr 2025
Magic Eden acquires Slingshot

Magic Eden, an NFT marketplace last valued at $1.6 billion in a 2022 fundraise, announced it had acquired Slingshot, a crypto trading platform, as part of a push beyond NFTs. Terms were not disclosed; CEO Jack Lu said Slingshot received a mix of equity and Magic Eden's $ME cryptocurrency, and that negotiations ran from roughly January to April 2025. Magic Eden said it would let Slingshot operate as is for now, with Slingshot CEO Clinton Bembry reporting to Magic Eden co-founder and chief product officer Zhuoxun Yin.

source ↗

Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.

In the news

Research sources · 3

primary sources listed

3 public sources were cited for this profile; the first-party ones are listed here.

Frequently asked questions

What does Slingshot do?
Mobile-first cross-chain crypto trading app acquired by NFT marketplace Magic Eden in April 2025.
Who founded Slingshot?
Slingshot was founded by Zak Cole.
Who are Slingshot's investors?
Slingshot's investors include Coinbase Ventures, D1 Ventures, Digital Currency Group, Mantis Capital, Nascent, Winklevoss Capital, Andreessen Horowitz, Forerunner Ventures and 2 more.