AlgoTrader AG is poised to drive growth thanks to a successful financing round. The startup raised 3.7 million Swiss francs of venture capital from institutional investors, announced a statement. Investors included investiere, BlockChain Valley Ventures and NeueCapital, with an undisclosed global bank leading the round.
AlgoTrader is a leading Swiss platform service provider for fully integrated and automated quantitative trading and trade 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,” commented Andy Flury, CEO and Chairman of the Board of Directors of AlgoTrader. The company is split into two business areas – one for traditional financial services and the other for crypto currencies.
In terms of the upcoming vote on a set of laws governing the issuance of crypto securities, AlgoTrader is well positioned, according to Luzius Meisser, whose titles include Member of the Expert Council of the Swiss Blockchain Federation and Board Member at Bitcoin Suisse. This set of laws would put Switzerland “far ahead of any other jurisdiction”, he said. He continued that AlgoTrader would 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.”