- Wintermute — an algorithmic liquidity provider for digital assets — announced it has closed $2.8 million in Series A funding led by Lightspeed Venture Partners
Wintermute — an algorithmic liquidity provider for digital assets — announced it has closed $2.8 million in Series A funding led by Lightspeed Venture Partners. This round of funding will help Wintermute accelerate its expansion into new liquidity products, specifically derivatives, over-the counter (OTC) market-making, and DeFi thus enabling Wintermute to further contribute to the liquid and efficient markets across the crypto ecosystem.
How does Wintermute work? Wintermute is a next-generation crypto-native market maker, which is focused on building a decentralized financial system by creating efficient and liquid markets with transparent prices. And the Wintermute team has built a proprietary tech stack for crypto market making, applying best practices of high-frequency trading (HFT), algorithmic trading, and market-making from traditional financial markets.
And Wintermute is on a mission to become the “invisible hand of the market,” which is the largest crypto market maker that provides liquidity to markets seamlessly thus making them more efficient and professional while supporting the projects that are best positioned to revolutionize finance as we know it. Since Wintermute launched in 2017, the team has quickly become one of the largest liquidity providers in spot and perpetuals markets, covering 500 pairs across most vetted crypto exchanges and trading platforms.
Wintermute’s proprietary trading system connects a large number of liquidity pools across centralized and decentralized sources and the company is leading in the provision of liquidity for new products like ETPs, new listings, and new projects.
This round of funding comes on the heels of the company’s seed round closed in February 2020 led by Blockchain.com Ventures (the venture arm of Blockchain.com, a long-term Wintermute business partner).
Key Quotes:
“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. This investment from Lightspeed — a firm that is known for its expertise in disruptive tech innovations — further validates our vision and enables us to accelerate building of the next generation trading technology.”
-Evgeny Gaevoy, founder and CEO at Wintermute
“The growing number of crypto exchanges is leading to an increased need for market making, and that is where Wintermute comes in. With its strategic, tech-first approach, Wintermute is making it easier for retail and institutional investors to buy and sell crypto.”
-Jeremy Liew, partner at Lightspeed Venture Partners
