Pantera Capital and Lightspeed Lead $20 Million Funding Round for Wintermute

Trading firm Wintermute has raised $20 million in a Series B funding round led by Lightspeed, with participation from Pantera Capital, Fidelity Avon Ventures, Sino Global Capital and others.

1/4 Wow! @Wintermute_t has grown nearly 25x in revenue since @lightspeedvp led their Series A in June, executing >>$1b/day in traded volume. We’re leading their B to support their ambitious plans going forward. I’m also thrilled to join the board. https://t.co/0lrapxN1fN

— Jeremy Liew, Partner at Lightspeed #BLM (@jeremysliew) January 20, 2021

The funds will be used to expand activities into new areas and to attract larger counterparties.

“As the size and complexity of cryptocurrency markets grow, and as direct connectivity between decentralized exchanges and users increases, the field will need liquidity providers that can grow in tandem and support market efficiency,” said the Director of Information Technology at Pantera Capital, Joey Krug.

The team has ambitious growth plans for 2021. Wintermute is testing an institutionally focused RFQ platform, which it plans to launch in the first quarter of the year.

With the launch of its own platform, the company plans to broaden its physical presence in Asia and open an international office in Singapore in the first quarter of 2021.

The company works with 50 cryptocurrency exchanges. In December, Wintermute’s turnover stood at $30 billion, and in January the company plans to double the figure.

Back in December, the startup Maps.me attracted $50 million to build a DeFi ecosystem.

Earlier, the lending platform Vauld received $2 million from Pantera Capital and Coinbase.

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