New York, NY – March 5, 2020 – AlphaPoint, a global financial technology company and leader in the white label exchange software space, announced today that it raised $5.6 million in new funding. AlphaPoint’s last major round of venture capital funding came in late 2018, when they successfully raised $15 million to become the Intel Inside of digital asset marketplaces and grow its customer base. This funding brings the total capital raised by AlphaPoint in its 6 ½ year history to $23.9M.
AlphaPoint’s white label exchange and brokerage technology has powered over 150 customers across 35 countries globally, serving over 1M end-users and enabling 100M annual trades across the client portfolio. The new funding will be allocated towards platform development and roll out of sophisticated exchange features like margin trading, integrated advanced brokerage capabilities, and premium liquidity solutions to customers.
“This capital injection enables AlphaPoint to continue delivering on our mission to enable access to digital assets globally. We are still in the early days of adoption and utilization of blockchain technology” said Igor Telyatnikov, Co-Founder &. CEO, AlphaPoint. “Stay tuned in 2020 as we will soon announce the release of a series of new liquidity, leverage, and lending products and solutions to our customers.”
On the heels of the fundraising effort, AlphaPoint has expanded their board of directors and advisory board with the addition of two new capital markets veterans. The first is Tim Scheve, President and CEO of Janney Montgomery Scott, LLC, a full-service brokerage and asset management firm with $750M revenues, $90B client assets, and nearly 2,000 employees serving individual, corporate, and institutional clients. Tim also serves on the FINRA Board of Governors since 2018. The Financial Industry Regulatory Authority, Inc. (FINRA) is a private self-regulating organization that oversees all brokerage firms in the U.S. and provides regulatory oversight for certain aspects of the securities industry.
“Blockchain and other emerging technologies have the potential to substantially change aspects of financial services” said Tim Scheve, President and CEO, Janney Montgomery Scott. “After personally observing advancements in these technologies for some time, I’m excited to engage more directly with Igor and the team at AlphaPoint to understand their impact on our industry.”
Also joining the firm as a company advisor is Jan Mayle, a veteran C-Suite fintech executive specializing in strategy and product management for financial services and electronic trading technology firms. He is currently CEO and founder of The Mayle Group, LLC, which provides consulting, advising, and mentoring services to early and growth stage fintech companies with a focus on the evolution of financial markets, wealth management, and financial analytics.
Jan Mayle commented on advising, “The blockchain industry is evolving quickly and AlphaPoint is well positioned to help financial institutions cross the chasm and participate in the digital asset ecosystem. I look forward to lending my capital markets experience and helping AlphaPoint in its next chapter of growth.”
About AlphaPoint
AlphaPoint is a financial technology company powering the exchange of digital assets globally. Through its secure, scalable, and customizable digital asset platform, AlphaPoint enables customers to tokenize assets and launch marketplaces with its white label exchange and asset tokenization technology. AlphaPoint and its award winning blockchain technology has helped institutions discover and execute their blockchain strategies since 2013.
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