Tagomi Holdings Inc, a digital asset brokerage firm, raised $12 million in its second round of funding.
According to a press release, the fundraising was led by Paradigm and Pantera Capital Management. The funding round was also open to users of the platform. The new funding brings the told net to $28 million. Previously, Tagomi had secured financing from Digital Currency Group, Collaborative Fund, Peter Thiel’s Founders Fund, and others.
Reportedly, the new funding will help the firm to scale and bring on more clients. As a broker platform, the firm provides investors with tools to better trade and transparency across the cryptocurrency market electronically. The Greg Tusar, the CO-Chief Executive Officer of Tagomi, stated:
“We are happy that clients have voted with their feet, and we share in their excitement of the achievement Tagomi has made in improving trade execution, transparency, and lower operational costs in the digital asset space. We are happy to partner with investors who have experienced first-hand, the frustrations around the lack of infrastructure, and work toward our shared vision of building next-generation robust trading technology, so that clients can focus solely on developing their strategies.”
Tagomi was launched last year in December. It is founded by a former Golfdman Sachs Group Inc, Jennifer Campbell, and Marc Bhargava.
The company has a sophisticated and diverse group of investors. Example of Tagomi’s clients include family offices, individual investors, traditional equity, FX traders and digital asset funds. Currently, the company offers three products, including an advanced trading terminal for active traders, a portfolio management interface for longer-term investors, and an API for various types of programmatic trading.
In a statement to reporters, the CEO and Co-Chief Investment Officer at Pantera Capital, Dan Morehead, stated, “We see the development of an electronic agency offering as an important step in empowering funds like Pantera to have complete control and anonymity when transacting in digital assets.”
Tagomi joins a list of startups aiming to bridge the gap between what investors except for market infrastructure and the unpredictable nature of cryptocurrency trading. Other startups include Arca Fund and Omega One, both of which have founders with Wall Street pedigrees.
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