Sfox Raises $22.7M in Series A funding Round

sfoxSfox, a Palo Alto, Calif.-based cryptocurrency prime dealer for high-volume traders and institutional investors, raised $22.7m in Series A funding.

The round was led by Tribe Capital and Social Capital, with participation from Y Combinator, Khosla Ventures, DHVC, Blockchain Capital, Upside Partnership, SV Angel, DCG, Mark Britto, and Airbnb Co-Founder Nathan Blecharczyk. In conjunction with the funding, Co-Founder and Partner at Tribe Capital, Arjun Sethi, will be joining SFOX’s board.

Founded in 2014 and led by Akbar Thobhani, CEO, SFOX has established itself as the premier cryptocurrency prime dealer for large-scale investors such as funds, family offices, and high-net-worth individuals, with over $9 billion in transaction volume to date.
SFOX, which has seen its client base grow 12-fold since the beginning of 2018 alone, enables institutions to trade high volumes without impacting prices by connecting them to a vast network of global cryptocurrency liquidity venues.

The company intends to use the funds to expand beyond its position as a prime dealer for institutional investors by building out the rails and infrastructure to become the premier institutional crypto asset management platform. This will involve the delivery of a family of products that brings additional durability to crypto asset management, including advanced security and risk management products, additional infrastructure and support, and licenses to access new markets.



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