AlgoTrader Obtains $4.5 Million in Pre-Series B Funding

AlgoTrader, a global leader in institutional trading technology for digital assets, has announced its $4.5 million Pre-Series B funding, which 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.

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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.

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.

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."

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."