Wintermute secures £2.2m Series A funding from Lightspeed Venture Partners to expand liquidity products
Lightspeed Venture Partners has led a Series A round in Wintermute to fund expansion into derivatives and decentralized finance.
Wintermute is an algorithmic liquidity provider for digital assets operating across multiple centralised and decentralised exchanges. The firm brings quantitative trading methods from traditional financial markets into the digital asset space.
Algorithmic liquidity provider Wintermute has secured £2.2m in a Series A funding round led by Lightspeed Venture Partners. The capital injection will support the company as it scales its operations into new liquidity products, including derivatives, over the counter market making and decentralized finance.
The raise follows a seed round closed earlier in the year and comes as demand for crypto market making increases alongside the growth of digital asset exchanges. Wintermute utilises proprietary technology drawn from traditional high frequency trading to service hundreds of pairs across vetted platforms.
Lightspeed Venture Partners backed the round to support the firm in developing further trading technology infrastructure. The latest financing validates the company approach of operating as a technology business within the digital asset ecosystem.
From the founder
"We made a deliberate decision to be a technology company, not a financial services one, and it’s our tech-first approach that enables us to develop liquidity solutions that will drive the growth of the overall market in both the near and long-term,"
Evgeny Gaevoy
CEO at Wintermute
Investor perspective
"The growing number of crypto exchanges is leading to an increased need for market making, and that is where Wintermute comes in,"
Jeremy Liew
Partner, Lightspeed Venture Partners
Use of funds
- 01Continue product development
Investors
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About the company
Wintermute
Wintermute provides algorithmic liquidity across digital asset markets.