July 31, 2024
Crypto trading firm Breakout has announced a successful $4.5 million seed funding round, led by RockawayX with participation from Mechanism Capital, Round13 Capital, C² Ventures, IOBC Capital, and Mentat Group.
The fresh capital will be instrumental in expanding Breakout's operations into the Asia-Pacific and Latin American regions.
Project | Latest Raise | Latest Raise Date | Stage | Total Raise | Lead Investor | Category |
|---|---|---|---|---|---|---|
Breakout | $4.5M | Jul 31, 2024 | Seed | $4.5M | RockawayX | Trading |
Since its inception, Breakout has achieved significant traction, amassing a user base of over 5,000 traders who have collectively executed more than $12 billion in notional volume. The company attributes this rapid growth to its dedicated team and unwavering focus on overcoming challenges through resilience and innovation.
The newly acquired funds will be utilized to enhance Breakout's product offerings and accelerate user acquisition. With a strong foundation and a proven track record, the company is poised for substantial growth and expansion in the global crypto trading market.
Breakout's leadership team expressed gratitude for the support of investors and the dedication of the company's employees, emphasizing the collaborative spirit that has driven the company's success. The firm anticipates sharing exciting product updates in the near future.
About Breakout
Breakout is a crypto native prop firm trading on the best centralized exchange liquidity. The only crypto prop firm offering perpetual futures liquidity directly sourced from tier 1 centralized exchanges
Our crypto trading environment sources liquidity from tier 1 centralized exchanges. We believe this is a first-of-its-kind implementation of tier 1 exchange liquidity for an evaluation-based crypto product.
Prop firms have had mixed success in the cryptocurrency sector because firms have traditionally relied on legacy FX brokers to provide crypto liquidity. This has meant wide spreads, poor liquidity, and a trading experience that is significantly worse than trading on a competitive crypto exchange directly.
We’ve fixed that.
Website: https://www.breakoutprop.com/
X Followers: 18,900
X Followers (30 days ago): 17,631
X Change: 1,369 (7%)
About Investor
Investor: RockawayX
Description: RockawayX is a venture capital firm backing leading Web3 funds and founders. Established in 2017 and based in London, Zurich and Prague, we focus on long-term value creation by providing engineering, liquidity and community support. Overseeing over $1.8B in assets across asset management and engineering divisions their staking division has been ranked #1 validator on Ethereum by Rated Network. Their VC Fund I is at 6.8x MOIC (5.4 TVPI) and our market-neutral Credit Fund delivered 13.6% net return in 2023.
RockawayX have invested in more than 30 funds and 50 projects to date, all of which are operating at the vanguard of a decentralized global economy.
Website: https://rockawayx.com/
Comentarios