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Zürich/Frankfurt, December 14th, 2020 - Finab EOS VC Fund has invested a seven-digit amount into AlgoTrader AG. This investment enlarges the company's Series A round to CHF 5.2 million. The Series A round is led by Credit Suisse Entrepreneur Capital Ltd. joined by investiere.ch, Blockchain Valley Ventures, and NeueCapital. FinLab EOS VC Fund is a partnership between Block.one, the publisher of the blockchain software protocol EOSIO, and FinLab AG (ISIN: DE0001218063; Ticker: A7A.GR), one of the first and largest investors in financial services technologies and blockchain in Europe. AlgoTrader AG provides a software solution for fully integrated and automated quantitative trading and trade execution for both traditional and digital assets. With its recently released platform, WIRESWARM, the company also provides a robust, mission-critical gateway for trading and execution of digital assets. With its leading quantitative strategy design, testing, automation, and trade execution platform across all asset classes, AlgoTrader enables banks, brokers, OTC desks and market makers to connect to, and interact seamlessly with the world's most liquid and regulated digital asset and cryptocurrency trading and execution venues. "Since our inception, AlgoTrader has built one of the world's most powerful quantitative trading and trade execution platforms on the market. Through our extended Series A round we are backed by capital that is coupled with the comprehensive expertise and broad network of our investor base, who will support us to scale even further," said Andy Flury, CEO of AlgoTrader AG. "Digital assets have increasingly gained prominence among investors. Therefore, institutional traders and banks now have the challenge of providing their clients with professional and secure access to this emerging asset class," said Juan Rodriguez, Managing Director of FinLab EOS VC Fund. "AlgoTrader closes this gap with their trading and execution platform and we are convinced that it will become the leading engine for both traditional and digital assets. In addition to an algorithmic trading solution, which offers the highest usability and functionality for investors and issuers, we also believe in the company's management team, which consists of complementary skill sets and experienced managers with institutional finance backgrounds," he added. AlgoTrader AG is also taking the next technological step through the utilization of Block.one's EOSIO protocol. "With expensive traditional audit procedures becoming void through the data persistence and security that comes along with the utilization of blockchain technology, we are enabling further efficiency by integrating EOSIO, the most highly performant, scalable and reliable blockchain solution on the market," said Bartosz Wojcik, CTO of AlgoTrader AG. About Block.one and EOS VC Block.one's EOS VC program offers developers and entrepreneurs the funding they need to create community-driven businesses leveraging EOSIO. It makes investments and provides support to companies building on EOSIO software through its venture capital partnership funds. For further information, please visit Block.one and vc.eos.io. About FinLab AG Stock market listed company FinLab AG (WKN 121806 / ISIN DE0001218063 / ticker symbol: A7A) is one of the first and largest investors focused on the Financial Services Technologies ("FinTech") and blockchain sector in Europe. FinLab's focus in this context is providing venture capital for start-ups. FinLab's aim is a long-term participation and ongoing support of its investments. FinLab in this regard supports its investments in their respective develop pment phase with their network and know-how. In addition, FinLab acts as an asset manager and manages assets in the three-digit million-dollar range. Press contact: End of Media Release Issuer: FinLab AG Key word(s): Finance
14.12.2020 Dissemination of a Press Release, transmitted by DGAP - a service of EQS Group AG. |
| Language: | English |
| Company: | FinLab AG |
| Grüneburgweg 18 | |
| 60322 Frankfurt/Main | |
| Germany | |
| Phone: | +49 (0)69 719 12 80 - 0 |
| Fax: | +49 (0)69 719 12 80 - 011 |
| E-mail: | investore-relations@finlab.de |
| Internet: | www.finlab.de |
| ISIN: | DE0001218063 |
| WKN: | 121806 |
| Indices: | Scale 30 |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Stuttgart, Tradegate Exchange |
| EQS News ID: | 1154734 |
| End of News | DGAP Media |
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1154734 14.12.2020
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