Enhanced Digital Group (EDG), a NYC-based wholesaler of structured products in the digital asset space, raised $12.5 million in seed funding.
The round was led by WebN Group – a research-based incubator backed by Alan Howard – and Genesis, with participation from additional investors New Form Capital, Nexo Ventures, Kenetic, BH Digital, Tribe Capital and IntoTheBlock founder Jesus Rodriguez.
The company intends to use the funds to provide products and services to firms catering to US onshore and offshore traders, while providing working capital to expand hires for sales, technology, legal, and finance.
Founded in October 2021 by a leadership team with over 60 combined years experience within derivatives trading led by Chris Bae, CEO; Leland Hersch, President; and Chetan Sennik, Head of Trading, EDG provides wholesale, customized structured products and derivative trading solutions to expand access to tailored financial exposure of digital assets. By enhancing the product development of both traditional financial services and crypto-native firms – including exchanges, wallets, custodians, trading firms, asset managers, corporates and broker dealers – EDG is enabling sophistication of crypto derivative trading solutions in a regulated, compliant, and turnkey package.
EDG has also added advisors Tahreem Kampton, former Corporate Treasurer and Chief Investment Officer, Microsoft; Paul Baron, former Head of AMRS Derivative Flow Sales, Bank of America; and George Livingston, former Managing Director, Bank of America and JPMorgan Chase.
FinSMEs
26/05/2022