Vest Labs Raises $13 Million in Seed Funding to Build a Crypto Proprietary Trading Platform That Shares Profits
New York startup Vest Labs announced it has raised $13 million in seed funding, which closed in July this year. The round was led by Portal Ventures, with participation from individual investors including executives from Citadel Securities, BlackRock, and KKR. Vest was co-founded by University of Pennsylvania dropouts Justin Ma, Rikuya Takatsu, and Maximilian Tsiang. The platform allows qualified traders to trade perpetual futures contracts around the clock using company capital, and traders can earn up to 80% of the profits—setting it apart from traditional proprietary trading firms that charge users fees for simulated accounts. The company plans to use the funding to develop a mobile app, expand its 22-person team, and broaden the range of tradable assets.
New York startup Vest Labs announced it has raised $13 million in seed funding, which closed in July this year. The round was led by Portal Ventures, with participation from individual investors including executives from Citadel Securities, BlackRock, and KKR. Vest was co-founded by University of Pennsylvania dropouts Justin Ma, Rikuya Takatsu, and Maximilian Tsiang. The platform allows qualified traders to trade perpetual futures contracts around the clock using company capital, and traders can earn up to 80% of the profits—setting it apart from traditional proprietary trading firms that charge users fees for simulated accounts. The company plans to use the funding to develop a mobile app, expand its 22-person team, and broaden the range of tradable assets.