The Pre-Series B funding is co-led by Credit Suisse Entrepreneur Capital and C3 EOS VC Fund with participation from East Asian venture capital firms SBI Investment and Fenbushi Capital, as well as other renowned investors including Verve Ventures, Quonota Investments, NeueCapital and more. AlgoTrader has now raised $11.1 million in total and will pursue its mission to untangle digital asset trading for buy- and sell-side clients. The new investment will be used to expand AlgoTrader’s position in the market and to drive platform and team development.
By orchestrating the entire digital asset trade lifecycle with its modular approach, AlgoTrader’s strategic value proposition benefits not only buy-side clients, but especially meets the demands of banks and prime brokerage firms – making its technology stand out from pure OEMS providers and competitors.
The new capital infusion is a big vote of confidence in the AlgoTrader platform and business model, which comes on the heels of a record growth in 2021 – with the company booking an ARR increase of 200% in Q4 alone. Due to the further growth of crypto funds, while more banks are increasing their exposure to digital assets, AlgoTrader’s powerful feature set will perpetuate its ongoing success story.
The successful Pre-Series B is another sign of the trust that AlgoTrader’s investors, clients and partners have in the company. Representative Director, President & Chairman of SBI Investment, Yoshitaka Kitao, said: “SBI strongly believes in the potential of blockchain technology and the crypto economy – especially for financial institutions. AlgoTrader’s focus on sell-side digital asset trading solutions is a perfect fit with our investment strategy, and is well supported by its impressive track record and client acquisition.”
Fenbushi Capital partner Rin Huang said: “The segmentation of crypto markets, and the related price differences, have always posed major problems for institutional traders. As Asia’s first blockchain-focused VC firm, we are very well acquainted with these challenges and have seen how AlgoTrader’s innovative solutions open up new opportunities for banks, brokers, OTC desks and market makers, giving them greatly enhanced access to this burgeoning sector. We are excited to support AlgoTrader’s vision and to help them onboard the next wave of institutional traders into the digital asset ecosystem.”
AlgoTrader CEO Andy Flury stated: “As we pursue our strategic focus on institutional digital asset trading, gaining support from leaders in the industry is invaluable. This round of investment goes beyond dollars as we are able to draw on the expertise, infrastructure and networks of our new investors to accelerate our growth and work towards the upcoming Series B funding.”
AlgoTrader is the global leader in institutional trading technology for digital assets that covers the entire trade lifecycle from pre-trade risk checks to order generation, automated settlement and custody reconciliation – offering best-in-class infrastructure for financial institutions. By supporting direct market access, seamless custody and core banking integration as well as full trade lifecycle automation, the AlgoTrader platform streamlines digital asset trading. Developed by a team of trading system veterans and crypto asset experts, AlgoTrader offers integrated infrastructure solutions that meet the highest institutional needs.
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