The web-based crypto investing platform launched in April 2020 has picked up nearly $40 million in funding to date.
Series A Fund To Be Used For Expansion
The crypto-investing platform has completed its Series A funding round for $35 million on Dec. 6.
The funding round was co-led by Alameda Research, a crypto trading firm owned by FTX founder Sam Bankman-Fried, and Bybit and BitDAO partner Miranda Ventures. In addition to these two giants. Venture capital (VC) firms like Fidelity International Strategic Ventures, DRW Venture Capital, Alumni Ventures, and Jump Capital. This round puts the total funding for the platform at “nearly $40 million.”
“In the very near future, we’re going to continue to evolve our platform away from automating strategies and giving people this easy investment platform into actually offering structured products like risk-adjusted portfolios and giving curated investment advice to individuals based on their risk tolerance,” stated Joel Birch, co-founder, and CEO of Stacked in an interview on Dec. 6.
The platform has automated transactions worth over $10 billion for thousands of new investors this year. Earlier this year in September, Stacked completed its seed round worth $1 million, which was backed by Alameda Ventures, CoinFund, amongst others. Before that, the platform also onboarded Motivate, Starting Line, and Jump Capital as strategic investors in May.
What is Stacked?
Stacked is a crypto investing platform that allows users to connect their existing exchange accounts and wallets. The platform offers investors tools like trade bots that allow users to get exposure to automated algorithms that simplify a part of their day trading. Indices/Rebalancing are pre-built index-style portfolios designed for novice investors.
Find more about Stacked here:
Source : solana.news