Crossover Markets, a London, UK-based digital asset technology firm, recently announced that it has raised $12 million in Series A funding. The round was led by Illuminate Financial and DRW Venture Capital, with participation from Flow Traders, Laser Digital, Two Sigma, Wintermute, and retail brokers such as Exness, Gate.io, GMO, Pepperstone, Trademax, and Think Markets. Additionally, the company disclosed the addition of new Board Members, including Mark Beeston, Founder and Managing Partner of Illuminate Financial, and Kevin Wolf, CFO at American Financial Exchange and former CEO of Euronext FX.
The funding will be used by Crossover Markets to invest in its team and technology to further solidify its position in the market.
The firm, under the leadership of CEO Brandon Mulvihill, specializes in digital asset trading technology, specifically focusing on meeting the liquidity requirements of institutions in the cryptocurrency markets. Its execution-only cryptocurrency Electronic Communication Network (ECN), known as CROSSx, is equipped with an advanced matching engine and order logic that allows clients to choose their trading partners.
In Q1 2024, Crossover Markets reported impressive statistics, including over $3.15 billion in notional trading value, 415,450 trades, and more than 141 billion quotes processed on CROSSx. These numbers highlight the firm's growing presence and success in the cryptocurrency market, demonstrating the effectiveness of its technology and team. With the new funding and experienced Board Members on board, Crossover Markets is well-positioned to continue its growth and innovation in the digital asset trading space.
# | Investor | Sector | Stage | Activity | Team | Connect |
---|---|---|---|---|---|---|
1 | ![]() Illuminate Financial | 2 investment(s) investment(s) | 10 contacts contacts | |||
2 | ![]() DRW Venture Capital | 1 investment(s) investment(s) | more info | |||
3 | ![]() Flow Traders | 1 investment(s) investment(s) | more info | |||
4 | ![]() Laser Digital | 1 investment(s) investment(s) | more info | |||
5 | ![]() Two Sigma | 1 investment(s) investment(s) | more info |
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