Vest Completes $13 Million Seed Funding Round Led by Portal Ventures

Vest Labs has announced the completion of a $13 million seed funding round, led by Portal Ventures, with participation from Citadel Securities, BlackRock, and KKR executives investing personally. The company did not disclose its post-funding valuation. Vest allows qualified traders to use company funds to trade perpetual contracts in real markets around the clock, enabling traders to retain up to 80% of their profits, with the remainder going to the company. The funding will be used to develop a mobile application, expand the current team of 22, and increase the variety of assets available for trading at all times. As of late September, 26% of the approximately 27,000 traders on the platform had received cash payments, with both monthly active traders and trading volume increasing by over 300% month-over-month.

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