HK fintech FinFabrik raises seed capital led by BitMEX Ventures

FILE PHOTO: A copy of bitcoin standing on PC motherboard is seen in this illustration picture, October 26, 2017. REUTERS/Dado Ruvic/File Photo

Hong Kong-based FinFabrik, a fintech startup focused on issuance, market making, and trading of digital assets, has raised an undisclosed seed funding round led by BitMEX Ventures, an investment arm of BitMEX, owned by Seychelles-based HDR Global Trading Ltd, according to an announcement.

FinFabrik offers BrokerFabrik, that helps brokerages run an equity trading business on their platform, and CryptoFabrik, a trading platform built with capital markets expertise to assist institutions and professionals.

The proceeds of the latest investment round will allow FinFabrik to expand its technology platform and product base.

“Our team is focused on creating solutions that enable owners to deploy their assets and liabilities. Owners may digitise and fractionalise their tangible and intangible assets, raise capital, and reach investors in a frictionless manner using FinFabrik’s proprietary blockchain and machine learning technologies,” said Alex Medana, co-founder and CEO of FinFabrik.

BitMEX is a Hong-Kong-based a peer-to-peer crypto-products exchange started in 2014 which allows investors access to the global financial markets using Bitcoin. The total value of products traded on the platform hits an average of $100 million per day.

In late 2018, BitMEX started a venture arm targeting crypto business investments. Its portfolio includes Blockfolio, in which BitMEX participated in a $11.5-million Series A round.

Meanwhile, other companies in the similar space have established their own venture arm including Coinbase starting its own VC operations in April.

Huobi Group has also set up Huobi Capital to focus on investing in blockchain technology, digital currency, and others and Binance, a cryptocurrency exchange, has also announced the launch of a $1-billion fund to finance projects in blockchain technology and cryptocurrencies.

Also Read:

SBI Crypto Investment injects $15m in Swiss blockchain wallet Tangem

Singapore entrepreneur Eric Cheng buys Japan’s FX, crypto currency exchange for $50m

 

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.