July 10, 2024
Tread.fi, an algorithmic crypto trading platform founded by a former Morgan Stanley employee, has raised $3.5 million in a pre-seed funding round. New Form Capital led the round, with Aquanow, Varys Capital, GBV Capital, Thanefield Capital and others participating.
Project | Latest Raise | Latest Raise Date | Stage | Lead Investor | Category |
|---|---|---|---|---|---|
$3.5M | July 10, 2024 | Pre-Seed | New Form Capital | Trading |
The round was structured as rolling simple agreements for future equity (SAFEs) with a token side letter, setting the stage for a subsequent round in Q1 2025, according to David Jeong, founder and CEO of Tread.fi and a former vice president of quantitative research at Morgan Stanley. Jeong said the round closed in the first quarter of this year, declining to comment on the valuation.
Armed with newly acquired funds, Tread.fi intends to persist in improving its trading platform and growing its team. At present, Tread.fi's workforce consists of eight individuals based in Bangkok and New York. Jeong, the leader of the company, has plans to augment the team with additional hires in the areas of engineering, sales, and business development.
About Tread.fi
Tread.fi is a crypto trading infrastructure startup that provides a full suite of algorithmic trading tools to meet the trading needs of its clients. The platform is designed to modernize trading strategies with systematic execution infrastructure. The team behind Tread.fi includes experienced execution quants, developers, and individuals who are passionate about reimagining trading infrastructure. The team is led by David Jeong, a former executive at Morgan Stanley, and includes other seasoned professionals from companies like Amazon, Coinbase, Uniswap, Capital One, and more. Tread.fi is focused on allowing its clients to concentrate on investment strategies while it handles the rest.
Website: https://www.tread.fi/
X Followers today: 373
About Investor
Investor: New Form Capital
New Form Capital is a venture capital firm that was founded in 2019. The firm is headquartered in New York, New York. They are investing at the intersection of fintech and blockchain since their inception. The digital finance shift is creating billions in economic value via reduced inefficiencies and the creation of new markets. Their firm is solely focused on this evolution.
New Form Capital seeks to invest in internet service providers, telecommunications, software, cryptocurrency, blockchain, and fintech sectors. They back exceptional teams building the next generation of financial markets. Their unique approach is to invest in teams building at the intersection of blockchain technology, financial markets, and data at the earliest stages.
Location: New York
Website: https://www.newformcap.com/
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