BitMEX Ventures Invests in Capital Markets Software Builder FinFabrik

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BitMEX Ventures Invests in Capital Markets Software Builder FinFabrik

By Diana Ngo - min read
Updated 11 September 2020

FinFabrik, a Hong Kong-based fintech startup developing
capital markets software, has raised an undisclosed amount in a seed funding
round led by BitMEX Ventures, the investment arm of Seychelles-based HDR Global
Trading Ltd., the operator of the BitMEX cryptocurrency exchange and derivative
trading platform. The startup said it will use the new capital injection to
expand its FinFabrik platform capabilities and develop new products based on
digital assets.

“Our team is focused on creating solutions that enable asset owners to deploy their assets and liabilities,” said Alex Medana, co-founder and CEO of FinFabrik.

“The successful closing of our seed round with support from leading institutional investors is a major milestone for FinFabrik. With this vote of confidence and continued support from our key partner BitMEX Ventures, we are now markedly closer to realizing our vision of making investment opportunities broadly available for everyone.”

Founded in 2016, FinFabrik creates software-as-a-service (SaaS)
applications to facilitate trading multiple assets such as equities and
cryptoassets. Its suite of solutions includes BrokerFabrik, a platform that
enables brokerages to run their entire equity trading business on one
innovative platform, lower technology costs and drive client engagement, and CryptoFabrik,
a cryptoassets trading platform for institutions and professionals.

As a B2B SaaS provider, FinFabrik has two categories of
clients: institutions such as banks, brokerages, and wealth management firms
looking to upgrade their technology, and companies dealing with newer asset
classes such as cryptocurrency.

The founders of FinFabrik have been named among the top
fintech influencers in the Asia-Pacific region and the company’s mission is to transform
financial services leveraging blockchain and artificial intelligence (AI) and make
investment available to anyone.

“We firmly believe we can achieve that with better
technology and user experiences,” says Dr.
Florian Matthaeus Spiegl, co-founder and COO of FinFabrik.

Especially in Southeast Asia, penetration of wealth management
and trading services is still fairly low, as traditional institutions running
outdated technology cannot afford to serve people without much capital to
invest, he explains.

BitMEX is a bitcoin derivatives platform designed to cater
to professional investors. The platform hit the industry record of more than 1
million bitcoin traded within 24 hours in August 2018.

BitMEX Ventures, which was founded last year, is the corporate
venture arm of the company. It builds and oversees an investment portfolio of
crypto and fintech companies developing innovative financial products
complementary to BitMEX’s core businesses. Besides FinFabrik, another of BitMEX
Ventures’ portfolio companies is Blockfolio, which announced
a US$11.5 million Series A financing round in October that counted BitMEX
Ventures as an investor.

“BitMEX Ventures is dedicated to supporting the growth of
financial infrastructures surrounding emerging asset classes, such as
cryptocurrencies, and supporting the world’s most innovative blockchain
startups,” said Arthur Hayes, co-founder and CEO of BitMEX.

“We believe in FinFabrik’s highly-capable team and its
mission of creating institutional-grade investment opportunities that allow
everyone to participate in building their own wealth. We strongly believe in
financial inclusion opportunities and the technology created by FinFabrik will
have a lasting impact on the next generation of professional trading tools for
digital assets.”