Exponential Exchange, a Washington, DC-based financial innovation platform, raised $7.4M in Seed funding.
The round, which brought the total amount to $8.8M, was led by MaC Venture Capital. Other investors included Autotech Ventures, and Avanta Ventures.
The company intends to use the funds to execute on its plan to pilot multiple OTC transactions while building the infrastructure required for exchange-traded futures.
Led by CEO Ryan Naughton, Exponential Exchange 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. Exponential is on a mission to create a set of financial instruments that would allow rental car companies, auto insurers, and auto lessors to transfer their financial exposure to other market participants.
Its initial product, the Exponential Used Vehicle Index, is designed to offer an efficient and effective method for tracking used vehicle values using data sets and modern data science techniques.
FinSMEs
26/07/2023