LIMASSOL, Cyprus, Nov. 30, 2022, Finery Markets, a major multi-dealer electronic marketplace for institutional participants and a supplier of crypto trading solutions, announced a USD 5.5 million initial investment round today. The capital round was the company’s first outside investment.

G1 Ventures, gumi Cryptos, and Shima Capital co-led the round. Communitas Capital, DV Chain, GravityX, Unlimint, Daedalus Angels, oneAlpha, Floating Point Group, and other industry giants participated in the round as well.

 Konstantin Shulga, co-founder and CEO of Finery Markets:

“As the first global institutional marketplace in the crypto world, we seek to develop best practises across trading, risk management, and operational standards for crypto. We regard ourselves as a fundamental building piece in the maturation of market infrastructure, which makes markets more efficient and sustainable. As a marketplace, we focused on attracting a diversified group of prominent investors, including web3 funds, strategic partners, and traditional venture capital companies led by electronic trading industry experts.

I believe that digital assets will become the world’s dominant asset class. Market structure should evolve to accommodate changing needs. Our objective is to bridge the transparency and technology solutions gaps by providing institutional-grade pre-trade, trade, and post-trade infrastructure to a diverse set of market players. We assist clients in automating activities across the whole trade life cycle and increasing corporate profitability.”

Finery Markets, founded in 2019, provides access to deep liquidity pools given by prominent global liquidity providers to 70+ firms dealing with digital assets globally. The platform’s pre-trade and post-trade capabilities offer clients pricing information, complete deal transparency, settlement flexibility, market & counterparty risk control, and reporting tools.

This round of investment followed the platform’s rapid expansion with a diverse client base ranging from payment processors to institutional sell-side to retail platforms, all on a shoestring budget. Despite the adverse market conditions, the platform saw 12x YoY revenue growth in 2021 and continued to increase in 2022.

G1 Ventures Managing Partner Arseny Klekovkin added:

 “We have been following the growth of Finery since its beginning and can only praise the team’s agility and evolution, as well as the amazing validation of an institutionally oriented and regulatory-compliant business model. P2P and marketplace mentality were early priorities for the Finery team, and they are now more important than ever for any business consumer of digital assets. Recent developments and failures of centralized onramps and trading venues highlight Finery’s basic advantages and will promote its future growth even in adverse markets. I’m looking forward to working with Ilya and Konstantin to help Finery grow even further.”

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Kshitij does business research and content writing for VCBay. Pursuing BBA from Symbiosis Center Of Management Studies (SCMS) Pune, he is skilled in Financial Modeling, Stock valuation and Microsoft Excel. He is passionate about Entrepreneurship and Finance.


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