Kalshi, a San Francisco, CA-based federally regulated exchange dedicated to trading on event outcomes, raised $30m in Series A funding.
The round was led by Sequoia Capital with participation from Charles Schwab, chairman of Charles Schwab Corporation, Henry Kravis, co-chairman & co-CEO of KKR, SV Angel and previous investors including Neo and YC Continuity.
The company intends to use the funds to bring its exchange to market and enable the trading of event contracts.
Founded in 2018 by Tarek Mansour and Luana Lopes Lara, Led by Tarek Mansour, co-founder and CEO, Kalshi is a federally regulated exchange dedicated to trading on event contracts, which are structured as questions about future events. Investors buy either “Yes” or “No” contracts based on whether they think the event will happen or not, allowing them to hedge everyday risks and capitalize on their opinions.
After exploring event driven hedging and investment products for institutional investors at Goldman Sachs and Citadel, Mansour and Lopes Lara identified the opportunity to create an event-focused asset class for retail investors. The company is currently operating a waitlist program for its exchange. The exchange will officially launch to the public next month.
FinSMEs
17/02/2021