AlgoTrader, the Swiss platform services provider for quantitative trading and trade execution, has raised a Series A round of 3.7 million CHF (€3.4 million), led by an undisclosed global Tier 1 bank. Other investors include investiere, BlockChain Valley Ventures and a seed-round investor, NeueCapital.
Founded by Andy Flury in 2014, AlgoTrader consists of two business lines: one for traditional finance and the other for crypto finance. The fully integrated algorithmic platform handles the buying and selling of both traditional and digital assets; it allows users to fully automate their trading, from strategy to execution.
“Since our inception, AlgoTrader has built one of the world’s most powerful quantitative trading and trade execution platforms on the market. We are excited about the trust of our investors to receive this new round of capital and build upon our leadership in five key areas: vision, product, customer support, partnerships with a team of industry experts,” says Flury, the fintech’s CEO. With the new funding, the Zurich-based startup wants to develop its own technology in order to strengthen the financial leadership and digital asset ecosystem in its home country. Switzerland is poised to pass new legislation in crypto finance, which could act as springboard for AlgoTrader. Luzius Meisser, member of the Expert Council of Swiss Blockchain Federation and a board member at AlgoTrader, explained: “Our parliament will soon vote on a set of laws that would put Switzerland far ahead of any other jurisdiction when it comes to the issuance of crypto securities. AlgoTrader is well-positioned to benefit from this development as it provides the essential building blocks for traders to tap not only into traditional markets, but also into the emerging world of decentralized, blockchain-based finance.”