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Crypto brokerage platform Tagomi has raised $12 million in its latest funding round, bring its total funding to $28 million to date, CoinDesk reported.
The round was led by Paradigm, a Yale and Sequoia-backed fund, with participation from Pantera Capital, Four Arrows and Multicoin Capital. The startup’s previous funding round drew support from Digital Currency Group, Peter Thiel’s Founders Fund, Collaborative Fund and others.
Tagomi offers trading services for cryptocurrencies including bitcoin and ethereum and went live in December 2018. According to the official release, the company currently offers three product lines:
- A portfolio management interface for longer-term investors
- An advanced trading terminal for active traders
- An API for various types of programmatic trading
“We are excited to partner with Tagomi as they continue to build momentum and traction. We view their best-in-class product and team as the next step in the evolution of how digital assets trade,” Matt Huang, Founding Partner at Paradigm and former Partner at Sequoia said.
Speaking to CoinDesk, Tagomi co-founder Jennifer Campbell explained that Tagomi is “agency-only,” which means that it provides consulting services to its clients to help them determine the best way to execute a trade or fund strategy.
Tushar Jain, Managing Partner of Multicoin, said this “unique agency electronic model” aligns Tagomi to “partner and work with us to provide access to liquidity and financial products which help us more efficiently execute our fund strategy."
Tagomi plans to use the amount raised to grow operations to support and scale with client demand, as well as to continue improving trade execution and transparency.
Campbell said that the firm intends to continue to expand its global coverage, and build out margin, lending, shorting and other prime broker services for its customers.
“We are excited to bring all the technical advances of the securities markets to the digital asset space, and drive the evolution towards a more mature market structure,” she said.
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