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Trading Technology Provider BlockFills Raises $37M For Expansion
BlockFills, a Chicago-based digital asset trading technology company, has raised $37 million in Series A round to fuel its expansion plans.
The funding round was led by a number of institutional investors like Susquehanna Private Equity, CME Ventures, Simplex Ventures, C6E, Nexo Inc, and others.BlockFills aims to be a one-stop shop for financial institutions that wish to develop a digital asset trading business.While institutions will be increasingly looking to offer digital asset services, many might not have the technical infrastructure needed to do so, which is what BlockFills seeks to address.BlockFills intends to use the capital to offer more upscaled services to asset managers and hedge funds, such as risk mitigation and hedging strategies, according to an announcement on Wednesday.The funding will also be used to expand its financing service for crypto miners. Since August 2020, the company has provided around $150 million capital to finance mining pool technology and trading support.