Paradigm Raises $35M in Series A at $400M Valuation

Fazzaco learned that Paradigm has raised $35 million in Series A funding round, boosting its valuation to $400 million. 

As detailed in the official announcement, the latest funding round was co-led by Jump Capital and Alameda Ventures. Over 25 investors participated in the Series A, including Genesis Trading, QCP Capital, Nexo, Optiver US, IMC, GSR, Akuna Capital, Babel Finance, MGNR, Avon Ventures, CMT Digital, executives at Goldentree Asset Management and Amber Group. Investors from previous seed rounds Dragonfly Capital, Digital Currency Group, Vectr Fintech Partners and Mirana Ventures, Venture Partner of Bybit and BitDAO also participated.

With Paradigm, traders connect directly with institutional counterparties in the Paradigm network to get better-than-market prices (often at mid pricing) and for much larger sizes. Paradigm also provides all the workflow automation tools necessary to facilitate multi-leg and multi-product strategies with underlying hedges via a single executable structure. This increases trading precision, eliminates leg risk and lowers execution costs since all legs and hedges are executed as one single block, as opposed to piecing the trade together manually on screen. In addition, the platform is also free to use!

The Company works with over 600 institutions and trading volumes on the network have increased upwards of 1300% year-over-year to $10B in total volume traded per month. Paradigm has grown significantly in 2021, increasing its headcount 3x while capturing a 30% market share of options volume globally.

​"We estimate that large and multi-leg orders account for roughly 30% of global listed derivatives volumes, or roughly $50-75 B per day," Anand Gomes, Paradigm's Co-Founder and CEO stated, "At Paradigm, we are focused on establishing a robust network before monetizing. This funding round allows us to continue building out our network of institutional traders, CeFi exchanges, and DeFi protocols, while also enhancing our 24/7 customer support, and expanding upon our current product offerings to better accommodate the needs of our clients."