Seed CX Attracts $15 Million In Series B Fundraising
Seed CX, a crypto trading platform, managed to lure $15 million in a series of B fundraising round under the guidance of Bain Capital Ventures specializing in venture financing.
"Thrilled to lead this $15M Series B round for SeedCX, the first licensed #cryptocurrency exchange with an offering for institutional investors. Welcome to the BCV portfolio!” according to Twitter post by Bain Capital Ventures.
Thrilled to lead this $15M Series B round for @SeedCX, the first licensed #cryptocurrency exchange with an offering for institutional investors. Welcome to the #backedbyBCV portfolio! @LynneMarek @CrainsChicago #crypto https://t.co/tnY6p4dj99— Bain Capital Ventures (@BainCapVC) September 12, 2018
The cryptocurrency exchange has managed to raise a total amount of $25 million in the entire investment campaign. With reference to the representatives of the project, they plan to operate the collected funds in improving the company’s structure and performance, adding new trade services, and increasing the corporate staff to 40 employees.
The project will provide services to both institutional participants and private investors, CEO of Seed CX Edward Woodford stated. He noted that the exchange’s particular characteristic is that it is a pioneer in enabling influential investors to enter the crypto market by means of advanced technologies, a system for preventing financial threats, and coordination with regulatory requirements.
The crypto team offers payment and trading services to conduct cash and derivatives transactions under the supervision of the US regulator CFTC. The project continues to cooperate with state regulators and intends to receive a license from the New York’s regulator, and, additionally, the company filed an application to the FINRA to get a permission for brokering activities.
As previously reported, an investment company Pantera Capital managed to attract more than $70 million from 90 investors in the crypto industry fundraising.