Finery Markets gets seed funding for crypto push

Trading platform Finery Markets has completed a $5.5 million seed funding round, the first time the company received outside funding.

The round was co-led by G1 Ventures, Gumi Cryptos and Shima Capital. Investors including Communitas Capital, DV Chain, GravityX, Unlimint, Daedalus Angels, OneAlpha, Floating Point Group and other industry leaders also joined the round.

"We aim to establish best practices across trading, risk management and operational standards for crypto,” says Konstantin Shulga, co-founder and CEO of Finery Markets. “We see our role as a foundational 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.

“I believe in digital assets becoming a leading asset class globally,” he continues.
Market structure should meet evolving requirements. Our mission is to bridge the gaps in transparency and technological solutions by bringing institutional-grade pre-trade, trade and post-trade infrastructure to a broad range of market participants.”

Rui Zhang, co-founder and managing partner of Gumi Cryptos Capital, adds, “As we observed in the TradFi world, a majority of the transactions are actually completed via OTC market, rather than exchanges. We believe it will be the same for the crypto market. As a multi-dealer execution venue, Finery is able to provide a much more efficient trading operation, lower execution cost, and safer clearing control for institutional users.”

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