Qredo raises £7.9m in seed funding to launch decentralized asset infrastructure
The seed round was led by a diverse group including G1, Gumi Cryptos, Maven 11, Spartan Group, 1kx, and Kenetic.
Share allotment filed at Companies House
Qredo develops decentralized digital asset management infrastructure and product suites for institutional clients. The network enables secure crypto transfers, swaps, and settlements across Layer 1 and Layer 2 blockchains.
Qredo has secured £7.9m in seed funding to support the expansion of its decentralized digital asset management platform. The round was led by G1, Gumi Cryptos, Maven 11, Spartan Group, 1kx, and Kenetic, alongside a broad syndicate of participating backers. The fresh capital will be directed towards research and development, hiring senior talent, and preparing for the upcoming version 2 release of the network.
The company operates a protocol designed to connect Layer 1 blockchains like Bitcoin and Ethereum to a Layer 2 network, allowing institutional users to access cross-chain liquidity and decentralized finance applications securely. Following the live deployment of its version 1 mainnet across several global data centres, the firm intends to transition toward a decentralized autonomous organization model.
From the founder
"The next generation of DeFi players will be institutions that actively look for ways to enter the crypto market in a secure and compliant manner without sacrificing their ability to respond to economic opportunities, "
Anthony Foy
CEO at Qredo
Use of funds
- 01Grow the team
- 02Fund research and development
Investors
G1
Gumi Cryptos
Maven 11
Spartan Group
1kx
Kenetic
Amnis Ventures
Artus
Borderless Capital
Celsius
CMS Holdings
Connect.Capital
Deribit
GSR
Kronos
Quantstamp
Q-Stone Partners
SVK Crypto
Tokentus
3commas
Wintermute
Yellow
Zhou Holdings