Crypto prime broker SheeldMarket raises $10 million in Series A funding

Oct 12, 2021 | The Block News | 0 comments

crypto-prime-broker-sheeldmarket-raises-$10-million-in-series-a-funding

SheeldMarket, a licensed crypto prime broker based in France, has raised $10 million in a Series A funding round.

London-based venture capital firm Atomico led the round, with Semantic Ventures, also based in London, participating. Angel investors, including Ledger CEO Pascal Gauthier, and Alexis Bonillo, co-founder of social map app Zenly, which was recently acquired by Snapchat, also backed the round. All existing investors joined the round too.

As part of the deal, Atomico partner Siraj Khaliq has joined SheeldMarket’s board of directors.

With fresh capital at hand, SheeldMarket plans to grow its platform to offer access to derivatives trading and permissioned DeFi protocols such as Aave Arc. “Since we are a broker under regulatory supervision, we cannot trade directly with non-permission DeFi protocols as there is no KYC,” SheeldMarket CEO Oliver Yates told The Block.

SheeldMarket is regulated by the French financial regulator AMF. It currently provides institutional investors access to crypto spot trading. Its clients include crypto hedge funds, blockchain or DeFi foundations, and fintechs looking to embed crypto into their offering, said Yates.

To expand its operations, SheeldMarket is also looking to double its current team of 17 in the coming months, said Yates.

The Series A round brings the firm’s total funding to date to $11 million. Last year, SheeldMarket raised $1 million in seed funding co-led by Draper Dragon and Axeleo Capital.

© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

News Source from TheBlockCrypto.com

Related Articles

Reddit seeks ‘engineers and leaders’ for a possible NFT platform

The social discussion site Reddit is looking to hire people for what could become a new platform for non-fungible tokens (NFTs) and digital goods.  According to a post for a Senior Backend Engineer from this week: “We are looking for strong engineers and leaders to...

Fear of the unknown: A tale of the SEC’s crusade against synthetics

DeFi built on blockchain and legacy financial systems is on the verge of clashing in one of the most tumultuous battles in economic history. On the opening day of Messari Mainnet 2021, New York City’s long-awaited first crypto conference since the start of COVID-19,...

Pin It on Pinterest

Share This