Exponential Markets, a Washington, DC-based fintech startup providing financial instruments for financial protection for participants in a variety of asset classes, received a strategic investment from Citi.
The amount of the deal was not disclosed.
Citi invested in Exponential’s most recent seed round, which was led by MaC Venture Capital, and included support from Autotech Ventures and Avanta Ventures, bringing the total amount raised to over $10M.
The company intends to use the funds to further develop risk mitigation tools for the automotive ecosystem.
Led by CEO Ryan Naughton, Exponential Markets is creating a series of financial instruments designed to offer new levels of financial protection for participants in a variety of asset classes. These tools will allow hedgers to offset exposure to adverse price movements via derivatives that settle against Exponential-powered indices. Targeting asset classes that lack effective risk-management tools, the company leverages data sets to create their tradable financial instruments.
Commenting on the news, Ryan Naughton said: “The investment and support from a global financial leader like Citi are a testament to our vision and ability to execute.”
FinSMEs
13/02/2024