AlphaPoint, a provider of white-label blockchain asset exchange software; announced today that it has raised $5.6 million in new funding. The financial technology company’s last major round of venture capital funding came in late 2018; when they successfully raised $15 million.
This funding brings the total capital raised by AlphaPoint in its 6 ½ year history to $23.9 million. AlphaPoint’s white label exchange and brokerage technology have helped power over 150 customers across 35 countries globally, serving over 1 million end-users and enabling 100 million in annual trades across their client portfolio.
Funding
The new funding will be allocated towards platform development and roll-out of sophisticated exchange features; like margin trading, integrated advanced brokerage capabilities, and premium liquidity solutions to customers.
“This capital injection enables AlphaPoint to continue delivering on our mission to enable access to digital assets globally. We are still in the early days of adoption and utilization of blockchain technology. Stay tuned in 2020…as we will soon announce the release of a series of new liquidity, leverage, and lending products and solutions to our customers.”
– Igor Telyatnikov, Co-Founder &. CEO, AlphaPoint
Board Moves
On the heels of the fundraising effort, AlphaPoint has expanded its board of directors and advisory board with the addition of two new capital markets veterans. The first is Tim Scheve, President, and CEO of Janney Montgomery Scott, LLC; a full-service brokerage and asset management firm with $750M revenues, $90B client assets, and nearly 2,000 employees serving individual, corporate, and institutional clients. Tim also serves on the FINRA Board of Governors since 2018. The Financial Industry Regulatory Authority, Inc. (FINRA) is a private self-regulating organization that oversees all brokerage firms in the U.S. and provides regulatory oversight for certain aspects of the securities industry.
Also joining the firm as a company advisor is Jan Mayle; a veteran C-Suite fintech executive specializing in strategy and product management for financial services and electronic trading technology firms. He is currently CEO and founder of The Mayle Group, LL; which provides consulting, advising, and mentoring services to early and growth-stage fintech companies with a focus on the evolution of financial markets, wealth management, and financial analytics.
