Eight Roads Ventures Japan leads Series A funding in digital exchange Binfinity

Binfinity team.

Binfinity AG, operator of a digital asset exchange platform developed by a team of capital markets specialists in Tokyo, has raised an undisclosed amount in its Series A funding round led by Eight Roads, a global proprietary investment firm backed by Fidelity.

The Swiss company said it will use the fresh capital raised in the Series A funding round to “propel the growth” of its global digital asset exchange platform Binfinity, which opens to the global investor community Monday after operating in stealth beta mode since August.

It deploys the core exchange technology Raptor, which has been used by many capital markets firms, under license from Fusion Systems.

Binfinity AG said it has developed the platform to offer a “well-regulated, one-stop digital asset management platform” suitable for institutions, family offices, and retail investors.

“Binfinity’s long-term vision is to build a platform to enable investors and capital markets professionals to leverage digital assets for long-term sustained competitive advantage,” said CEO Michael Alfant.

Alongside the official launch of the platform, Binfinity AG is introducing BFC or ‘Binfinity Coin’, an ERC-20 based utility token that the company said rewards investors with discounted trading fees and a share of commissions earned from the referred business.

Eight Roads Ventures is an active investor in Asia. It has invested nearly $6 billion into growing companies in the last 10 years, through venture capital, principal investments and real estate investments, according to its website.

In July, the venture capital firm led the $12-million Series B funding in StashAway, a Singapore-based robo-advisor founded in 2016 by Michele Ferrario, former ZALORA Group CEO; Freddy Lim, former MD and Global Head of Derivatives Strategy at Nomura; and Nino Ulsamer, a serial tech entrepreneur.

It also anchored an $27-million investment round in Japanese software-as-a-service startup Yappli.

Last year, Eight Roads Asia managing partner Raj Dugar told DealStreetAsia that the firm sees the potential for a $200-million fund focused on Southeast Asia to fill the Series B to D funding gap in the region.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.