AlgoTrader Completes Series A Funding Round

AlgoTrader, a Swiss-based firm offering algorithmic trading software solutions for quantitative hedge funds trading equities, FX, derivatives and cryptocurrencies, has completed a CHF 3.7 million ($3.81 million) round of financing from institutional investors.

The firm says that this series A funding round was led by a global tier one bank, but is declining to disclose the name of the bank. Blockchain Valley Ventures, investiere and seed-round investor NeueCapital were the other firms involved in this latest funding round.

“Since our inception, AlgoTrader has built one of the world’s most powerful quantitative trading and trade execution platforms on the market. We are excited about the trust of our investors to receive this new round of capital and build upon our leadership in five key areas: vision, product, customer support, partnerships with a team of industry experts,” says Andy Flury, CEO and chairman of the board of directors at AlgoTrader.

Andy Flury, AlgoTrader

Luzius Meisser, the founder of Meisser Economics, a board member at both Bitcoin Suisse and AlgoTrader, and a member of the expert council of the Swiss Blockchain Federation, claims that the legal environment in Switzerland could soon provide firms with a crypto offering located there with a significant advantage over other competitors.

“Our parliament will soon vote on a set of laws that would put Switzerland far ahead of any other jurisdiction when it comes to the issuance of crypto securities. AlgoTrader is well-positioned to benefit from this development as it provides the essential building blocks for traders to tap not only into traditional markets, but also into the emerging world of decentralised, blockchain-based finance,” he says.

AlgoTrader has also announced the appointment of Roger Altorfer to its board of directors. Altorfer is a member of the executive committee of Microsoft Switzerland, having joined the company in 2013 to advise its customers on migrating to the Cloud. Prior to that, he spent 10 years at IBM and over four years at Clariden Leu, a Swiss private bank.

“With the addition of Roger Altorfer, we have gained a proven software and financial industry expert. I am already looking forward to working with Roger and I am sure he will be a great asset and an important pillar for the future success of AlgoTrader,” says Flury.

Altorfer adds: “It’s an honour for me to join the AlgoTrader Board and be part of such a dynamic and fast growing company. My 20 years of management and sales experience in an agile environment perfectly complements the skills of the AlgoTrader team.”

Galen Stops

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