Victor Ugochukwu · Dec 14, 2020 . 5min read
Tallinn based 3Commas raises $3M Series A funding from Alameda Research
3Commas which offers non-custodial trade automation service has successfully raised Series A round amounting to $3M led by Alameda Research.
By Victor Ugochukwu · Nov 4, 2020 . 5min read
3Commas which offers non-custodial trade automation service, has successfully raised Series A round amounting $3 million led by Alameda Research.
The automated trading service provider recently issued a press release to announce this raise. 3Commas is non-custodial, Order Management System (OMS) and crypto-asset management platform which users currently deploy across 23 exchanges.
Yuriy Sorokin, CEO of the automated trading and portfolio management software founded 3Commas in 2017. And this has since racked up to 100,000 monthly active users and facilitating as much as $12 billion in annual volume trade.
Furthermore, asides its “Smart Trade” automated trading software product, it launched numerous DCA and Grid Bots last year. This makes it the first crypto software-driven company to market with derivatives specific Bots. Sam Bankman-Fried stated that its vision and 3Commas’ aligns perfectly. Afterall, 3Commas develops and offers products that are strategically related to the CEO’s other company. Sam Bankman-Fried also doubles as the chief executive of FTX Futures and Derivatives exchange.
3Commas founder Yuri Sorokin said,
“We are delighted and equally humbled by the confidence placed in our team by our investors. 3Commas was built on our fundamental belief in financial inclusion and affordable access to the best trading and risk management technologies for all. This round validates our strategy and lays the groundwork for further expansion, innovation and global reach.”
Alameda Research continues its expansionary move into startups by investing in 3Commas.
Alameda has been moving pretty fast. It has invested in more than five startups so far. FTX, Frontier, MathWallet, Dune Analytics, Opium represents just a few of the companies where Alameda Research has invested. Perhaps, only Binance presently outpaces Alameda Research in investing in other companies right now. The firm currently manages over $300 million in digital assets and trades $1.5 billion per day across thousands of products.
Sam Bankman-Fried, CEO of Alameda Research and FTX charisma also happens to be one of the factors that led to the closing of this deal. Yuri which admitted that it considered other offers from “bigger names” but settled with Alameda Research due to Sam Bankman-Fried.
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