Zapper announced its closure after nearly seven years in DeFi

Zapper will cease operations on August 3, 2026

Zapper, the decentralized financial (DeFi) portfolio tracking platform, will cease operations on August 3, 2026, bringing an end to its nearly seven years of decentralized financial ecosystem services. The shutdown will affect the company\'s website, mobile applications and API services.

\"After nearly seven years of building Zapper, I regret to announce that Zapper will be phased out of operations. We evaluated a variety of different options and tried our best to explore some of them, but ultimately realized that shutting down operations in an orderly manner was the best option.\" Co-founder and CEO Seb Audet said in a statement that the company had explored multiple alternatives before deciding to end operations in an orderly manner.

Zapper is headquartered in Montreal, Quebec, Canada and was founded in 2020 by Seb Audet and Suhail Gangji. The company was established as a remote-first start-up during the COVID-19 epidemic and has gradually evolved into one of the leading DeFi portfolio tracking platforms.

Zapper\'s seven-year journey comes to an end

Zapper was born at the beginning of the rise of decentralized finance. It was originally a personal portfolio tracking tool created by Audet when exploring DeFi. Over the years, it has evolved into one of the most widely used dashboards in the industry, allowing users to monitor wallets, DeFi positions, NFTs, and on-chain assets on multiple blockchain networks.

According to Audet, Zapper has served more than 2 million monthly active users and processed more than $13 billion in transaction volume during peak periods. Looking back on the company\'s development, he described it as a \"once-in-a-lifetime journey\", affirming both the joy of success and the challenges faced in building a crypto start-up.

\"I do believe that we have helped a considerable number of people significantly simplify the on-chain economical experience.\" Audet also thanked Zapper users, employees, investors, consultants and community members for their support of the platform throughout its operations. He said the company\'s mission is to make decentralized finance more convenient and believes Zapper has helped millions of users simplify the on-chain experience.

Zapper receives US$16.6 million in financing from major crypto investors

During the DeFi boom, Zapper received strong financial support, raising a total of approximately US$16.6 million through six rounds of financing. Its largest financing occurred in May 2021, when the company received a US$15 million Series A financing led by Framework Ventures, with participants including Coinbase Ventures, Mark Cuban, Sound Ventures, ParaFi Capital, LongHash Ventures, Nascent and Libertus Capital.

The funds will be used to expand Zapper\'s multi-chain portfolio tracking platform, improve the user experience for decentralized finance, and accelerate product development as DeFi adoption continues to grow. Despite gaining support from major crypto investors and serving millions of users in nearly seven years, Zapper ultimately decided to cease operations, highlighting the long-term sustainability challenges faced by crypto infrastructure companies.

Services will end on August 3

Zapper confirmed that all of its services, including zapper.xyz, mobile applications and API services, will be permanently closed on August 3, 2026. Existing API customers will receive a transition email with guidance on migrating their integrations before shutting them down.

In the announcement, Audet also encouraged companies in the encryption and technology industries to consider hiring Zapper\'s team. He highlighted the team\'s experience in expanding a platform that serves millions of users and handles more than $13 billion in transaction volume, calling it a team with deep expertise in on-chain engineering and operational infrastructure.

The closure marks the end of one of the longest-running portfolio management platforms in the DeFi space and reflects the challenges faced by crypto infrastructure companies as the industry continues to grow. Earlier this year, DeFi super app Legends closed due to difficulties sustaining long-term growth, ending its Web3 journey. Recently, the closure of AscendEX has also attracted new attention, with users reporting delays in withdrawing cash while the platform ceased operations. These closures highlight the operational and financial challenges that crypto platforms still face despite continued innovation in the digital asset industry.