Finery Markets Raises $5.5 Million

The first funding the company received from outside to accelerate corporate adaptation!

About Fİnery Markets Seed Round

Finery Markets is the leading multi-dealer electronic marketplace for corporates and a provider of trading services for crypto markets. The company recently announced that it has raised $5.5 million in a seed funding round led by G1 Ventures, Gumi Cryptos and Shima Capital. Also participating in the round were industry-leading investors such as Communitas Capital, DV Chain, GravityX, Unlimint, Daedalus Angels, oneAlpha, Floating Point Group. 

Finery Markets has two main business lines. These are;

1. A multilateral trading system that connects liquidity providers and institutional clients throughout the entire trading cycle. Thanks to this service, liquidity providers get rid of toxic flow, while corporate customers benefit from better application quality thanks to a precise quotation flow with a rejection rate of 0%. 
2. It provides the platform for the service for OTC desks and exchanges, offering an institutional technical infrastructure for risk and position management, financing, trading, reporting and reconciliation. 

Konstantin Shulga, co-founder and CEO of Finery Marketssaid: “Running the first multilateral institutional marketplace in the crypto space, we aim to establish best practices across trading, risk management and operational standards for crypto. We see our role as a foundation building block for maturing market infrastructure, which makes markets more efficient and sustainable. As a marketplace, we focused on bringing in a diverse mix of leading investors that represent web3 funds, strategic partners and traditional venture capital firms, led by veterans of the electronic trading business.”

Finery Markets will use the funding from the round to expand its teams in the US and APAC regions, expand its prime brokerage and liquidity provider networks, offer new pre- and post-trade services, and expand into complementary business lines with new asset classes. 

SOURCE

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