Portofino Technologies Raises US$50M to Scale Its HFT Crypto Infrastructureby Fintechnews Switzerland September 20, 2022
Digital asset trading technology provider Portofino Technologies has raised over US$50 million in equity funding from Valar Ventures, Global Founders Capital and Coatue to scale its technology across the full crypto infrastructure value chain.
The company, founded by former Citadel Securities executives Leonard Lancia and Alex Casimo, builds high-frequency trading (HFT) grade technology for institutions and Web3 projects that require digital asset liquidity.
Portofino says that it has traded billions of dollars across centralized and decentralized cryptocurrency venues and hired a team of 35 HFT specialists globally in the past year.
Leonard Lancia, CEO and Founder at Portofino said:
“This is only the start for Portofino. In Web3, every action is a transaction and we’re building the underlying technology that is going to enable entirely new services and industries in the future.”
James Fitzgerald, Founding Partner at Valar Ventures said:
“As the digital assets market continues to grow rapidly in size and complexity, Portofino’s proprietary technology, which enables the frictionless transfer of digital assets, will become more and more important for institutional and retail participants in the space.”