Swiss AlgoTrader raises another 3.4 million euros

BlockChain Valley Ventures and NeueCapital have invested in AlgoTrader, a Zurich startup that offers an automated algorithmic trading platform for various assets, including crypto-currencies.

During this round of financing A, led by a bank whose identity was not disclosed, AlgoTrader collected 3.7 million Swiss francs, or approximately 3.4 million euros.

BlockChain Valley Ventures and NeueCapital, who had already invested in the business earlier in 2018, also participated in the fundraising.

Founded in 2014, AlgoTrader has developed a software suite of algorithmic trading fully integrated for quantitative hedge funds. Its platform offers the possibility of automating complex trading strategies in the equity, forex and derivatives markets.

"AlgoTrader has built one of the world's most powerful execution and quantitative trading platforms on the market. We are delighted with the support of our investors, ”commented Andy Flury, CEO and founder of Algotrader.

The start-up will use the funds raised to accelerate its growth with the ambition of strengthening the traditional finance sector and crypto-finance in Swiss.

“Our parliament will soon vote on a set of laws that would place Switzerland far ahead of any other jurisdiction over the issue of cryptographic securities. AlgoTrader is well positioned to benefit from this development, "added Luzius Meisser, member of the board of directors of AlgoTrader and Bitcoin Switzerland.