AlgoTrader, an automated quantitative trading and trade execution platform, has bagged CHF 3.7m ($3.8m) in a round.
The round was led by an undisclosed global tier one bank, with contributions also coming from investiere, BlockChain Valley Ventures and NeueCapital.
The company will use the funds to further its growth and expansion efforts so it can bolster the financial hub and digital asset ecosystem of Switzerland and other countries.
AlgoTrader is an institutional grade algorithmic trading software for conducting quantitative research, trading strategy development, strategy backtesting and automated trading for traditional securities and digital assets.
Luzius Meisser, AlgoTrader board member, said, “Our parliament will soon vote on a set of laws that would put Switzerland far ahead of any other jurisdiction when it comes to the issuance of crypto securities. AlgoTrader is well-positioned to benefit from this development as it provides the essential building blocks for traders to tap not only into traditional markets, but also into the emerging world of decentralized, blockchain-based finance.”
As part of the deal, Microsoft Switzerland executive committee member Roger Altorfer will join the AlgoTrader board of directors.
AlgoTrader teamed up with core banking software developer Avaloq late last year to help build a global asset management ecosystem. The joint solution enables banks and other financial institutions to access a solution for handling tokenized securities and digital assets.
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