October 03, 2024
Synnax is excited to share that it has successfully completed a strategic funding round, securing $550,000 from Wintermute Ventures and TON Ventures. This brings the company’s total fundraising to $1.55 million. The new funds will support the ongoing development of Synnax’s flagship Credit Intelligence protocol and its Telegram mini-app, SynQuest, which has already attracted over 250,000 users in just two weeks since its launch.
Project | Latest Raise | Latest Raise Date | Stage | Total Raise | Lead Investor | Category |
|---|---|---|---|---|---|---|
Synnax Technologies | $550K | October 03, 2024 | Strategic Round | $1.55M | Wintermute Ventures and TON Ventures | AI, FinTech |
Wintermute, a prominent player in algorithmic trading and digital asset lending, aligns with Synnax’s vision for a decentralized, transparent, and open digital asset credit market. With its extensive trading experience and role in incubating lending platforms, Wintermute offers unique insights into borrowing and lending. As Wintermute’s investment arm, Wintermute Ventures is a perfect strategic partner for Synnax.
TON Ventures, the leading investor in The Open Network (TON) ecosystem, backs one of the fastest growing blockchain projects globally. Leveraging Telegram’s vast user base of over 950 million, TON is rapidly expanding its influence in the blockchain world. With the launch of SynQuest on TON and the swift growth of Synnax’s Telegram-based community, TON Ventures is an ideal strategic partner for Synnax.
About Synnax
Synnax is a company that leverages advanced AI and blockchain technology to provide real-time, predictive credit intelligence. Unlike traditional credit rating systems, Synnax uses a decentralized, bias-resistant consensus mechanism to aggregate machine learning model predictions. This approach offers a forward-looking view of a company’s financial performance, including real-time financial ratio predictions and probability of default scores. Synnax’s solutions are designed to maintain privacy and security, allowing both private and public companies to demonstrate their creditworthiness without revealing sensitive information.
Website: https://www.synnax.ai/
About Investor
Wintermute Ventures and TON Ventures.
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
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