EXA Finance raises $2 Million in Seed Funding
EXA Finance, a Peer-to-Peer Multi-Asset Exchange for Fungible and Non-Fungible Tokens (NFTs) closes a $2 Million Seed Funding Round led by Borderless Capital.
The Seed Funding Round includes the participation of Lemniscap, Encode Club, Meld Ventures, Algorand Foundation, 0xVentures, Speedinvest, and many more.
Here is the full list of organizations that participated in this seed round:
Borderless Capital, Lemniscap, Encode Club, Meld Ventures, 11–11 DG Partners, Algorand Foundation, 0xVentures, Speedinvest, Al Goanna, Stonks, Big Brain Holdings
Introduction
EXA Finance is a Peer-to-Peer Multi-Asset Exchange built on Algorand by EXA Labs SAS, a French startup based in Paris. It is part of the 13 selected startups of the Draper Blockchain Accelerator backed by industry experts and mentors including, Tim Draper, Andrew Durgee (Head of Blockchain at Republic), experimental artist Addie Wagenknecht, and many more.
Investing in our Product
We worked relentlessly on the development side during the last months and released sneak pieces of the platform on the Algorand testnet. Getting feedback from the community and looking at where the market is heading provided us with enough insights to design what we think will be a game-changer in the crypto space. This fundraising will power us to continue developing new features and ensure that our product meets all the community’s expectations. We want to deliver a product at the forefront of innovation through in-house development or forming strategic partnerships.
Investing in our Team
Building great solutions takes time and requires a strong team. It’s been amazing when we look back on how far we came with a group of 3 people. Since August, we’ve been bootstrapping a lot as most startups should, but now it’s time to move up a gear. Therefore, we will hire talented people in multiple areas such as engineering, business, and marketing to speed up our development process.
“We are glad of the overwhelming response regarding the project and are proud to welcome our distinguished panel of VCs.
DeFi and NFT markets are growing fast and are highly competitive. We believe Algorand will be one of the winners in the space and are excited for the list of innovations that EXA Finance will bring to the table. The best is yet to come.”— Ted Nivan, Co-founder & CEO at EXA Finance
2021 Highlights
- Algorand x Draper Blockchain Accelerator
- Incentivized Testnet Launch
- Al Goanna DeCipher Collaboration
- Art Goanna Collaboration
- Seed Fund Raising
What’s next?
- Smart Contract Audit by Runtime Verification (started)
- Implementation of innovative features
- Private & Public Sales
- Mainnet Launch
- $EXA Token Airdrop & Listing
“We are excited to join EXA Finance as a lead investor and support their vision of building the peer-to-peer rails for trading and exchanging different assets classes fully on-chain and in a trustless fashion by leveraging the unique atomic swap primitives of Algorand. Definitely, the EXA platform will be a game-changer for the FT and NFT markets.”
— David Garcia, CEO and Managing Partner at Borderless Capital
“We are incredibly proud to be backing Ted and the team. Throughout his involvement in our hackathons and accelerator, he was always a star in the making, characterised by a strong work ethic. EXA represents the start of an important wave of DeFi on Algorand and we hope it will be a cornerstone.”
— Anthony Beaumont, Co-founder at Encode Club
