In Brief:
- SheeldMarket has raised $10 million in series A funding round led by Atomico
- With the Series A round, the firm’s funding total stands at $11 million.
- Siraj Khaliq became a board member of SheeldMarket as part of the deal.
Licensed crypto prime broker SheeldMarket has raised $10 million in series A funding.
Atomico led the round and was joined by Semantic Ventures, based in London. Ledger CEO Pascal Gauthier, and Alexis Bonillo, co-founder of social map app Zenly, which was acquired by Snapchat recently all participated in the round.
Siraj Khaliq became a board member of SheeldMarket as part of the deal.
As fresh capital becomes available SheeldMarket plans to expand its platform to offer access to derivatives trading and permissioned DeFi protocols such as Ave Arc.
SheeldMarket CEO Oliver Yates said, “Since we are a broker under regulatory supervision, we cannot trade directly with non-permission DeFi protocols as there is no KYC.”
French financial regulator AMF regulates SheeldMarket. Currently, it offers institutional investors access to crypto spot trading, and its clients include crypto hedge funds, blockchains, and Defi foundations, as well as fintech companies seeking to integrate cryptocurrency into their services, said Yates.
Furthermore, SheeldMarket is looking to double its current team of 17 in the coming months to expand its operations.
With the Series A round, the firm’s funding total stands at $11 million. SheeldMarket was previously seeded with $1 million by Draper Dragon and Axeleo Capital.
