Vest Labs said it has raised $13 million in a seed funding round led by Portal Ventures, with some executives from Citadel Securities, BlackRock and KKR participating in a personal capacity. The company did not disclose its post-money valuation. Vest Labs focuses on qualified traders, offering access to firm capital for round-the-clock trading of perpetual futures in live markets, with traders able to keep as much as 80% of profits. The company said the new capital will be used to build a mobile app, expand its current 22-person team, and broaden the range of assets available for 24/7 trading. As of late September, about 26% of the platform’s roughly 27,000 traders had received cash payouts, while monthly active trader numbers and trading volume both rose by more than 300% from the previous month.
Vest Labs has raised $13 million in a seed round led by Portal Ventures, according to Odaily. Some executives from Citadel Securities, BlackRock and KKR also joined the round in a personal capacity. The company did not disclose its post-money valuation.
Vest Labs provides qualified traders with access to firm capital to trade perpetual futures in live markets on a 24/7 basis. Traders can keep up to 80% of the profits.
The company said the funding will go toward developing a mobile app, expanding its current 22-person team, and increasing the number of assets available for round-the-clock trading.
As of late September, around 26% of the platform’s roughly 27,000 traders had received cash payouts. Monthly active traders and trading volume both increased by more than 300% month over month.
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