Zignaly, a Singapore-based fintech startup operating a crypto industry’s social investment platform, raised $3m in a private sale.
The round was led by Parataxis Capital, joined by Okex’s Block Dream Fund, AscendEX (formerly BitMax.io), Sino Global Capital, LD Capital, LVT Capital, AU21 Capital, Disrupt.com, DAOMaker, GDA Capital, BSCPad, Acheron Trading, Switchain, Kryptos.fund & LedgerPrime.
Led by CEO Bartolome Bordallo, Zignaly is a consumer facing platform with the goal of enabling alternative investment opportunities and making digital assets more accessible to everyone. Zignaly’s NFT-based, profit-sharing service allows professional digital asset traders to manage other users’ digital asset investments through a pooled account. Neither the company nor the trader charge any upfront payment, and profits are automatically distributed to users and traders. Profit on the platform is performance-based.
The platform is plugged into some of the industry’s largest exchanges including Binance, with several other exchanges set to go live soon.
Zignaly has been generating revenue since 2018, and has a user base of over 60,000 registered users, who have traded over $1,700,000,000 in volume.
The company intends to use the funds to R&D, UX and to continue growth of its insurance protocol.