Floating Point Group Closed $10M Series A Round

Floating Point Group (FPG) has closed a Series A funding round yesterday with $10 million in capital to expand its growing operations. The company offers custody and algorithmic trading services to institutional investors, such as hedge funds, asset managers, and brokers.

FPG has declared that it wants to use the money to employ multiple US-based software engineers to meet “surging investor demand” and also to expand into new markets.

The Series A round included several big names, such as F A S T by GettyLab, Formulate Ventures, Coinbase Ventures, CapitalX, Borderless Capital, and Tribe Capital. Anthony Scaramucci and executives from HC Tech or GoldenTree Asset were also involved.

John Peurifoy, the CEO and one of the co-founders of FPG, declared:

“With this funding comes a host of brilliant, dedicated partners helping us pave the way forward for trading, custodying and ultimately using digital assets.”

Scaramucci said:

“Digital assets are at the forefront of financial innovation with promise to revolutionize money for small businesses and financial institutions alike. Floating Point Group is building transformative technology to deliver that promise.”

Source: CoinDesk.com

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