London-based Wintermute, a crypto market maker focused on high-frequency algorithmic trading and market-making services, has raised $20M (approx €16.4M) in its Series B round of funding. The round was led by Lightspeed Venture Partners.
“Wintermute has grown almost 25 times since Lightspeed led the company’s Series A round just six months ago,” says Jeremy Liew, partner at Lightspeed. With this investment, Jeremy Liew will join Wintermute’s Board of Directors.
Other investors in this round
Investors in the current round also include Pantera Capital, Sino Global Capital, Kenetic Capital, Rockaway Blockchain Fund, Hack VC, DeFi Alliance, Avon Ventures, a venture capital fund affiliated with FMR LLC, the parent company of Fidelity Investments, and Blockchain.com Ventures.
What does Wintermute do?
The company was founded in 2017 by Evgeny Gaevoy, Harro Mantel, and Yoann Turpin. Wintermute is a global algorithmic liquidity provider for digital assets. It is a crypto-native market maker, focused on building a decentralised financial system by creating efficient, liquid markets with transparent prices.