Rails Raises $6.2M in Seed Funding


Rails, a Toronto, CA-based provider of a self-custodial crypto exchange that allows users to trade perpetuals while maintaining self-custody, raised $6.2M in Seed funding.

The round was led by Slow Ventures, Round13 Capital, CMCC Global, and Quantstamp.

The company intends to use the funds to expand operations and development efforts.

Led by CEO Satraj Bambra, Rails is a self-custodial crypto perpetuals exchange that eliminates the risk of fraud and theft by allowing users to maintain complete control of their funds using audited smart contracts on the blockchain utilizing zero-knowledge proofs while trading on a proprietary, state-of-the-art matching engine.

Commenting on the news, Satraj Bambra said: “We utilize a centralized order book to drive the best execution combined with a decentralized solution for self-custody on the blockchain. This ensures that traders always have full control over their funds, without sacrificing speed or efficiency.”

The team alsom includes: Megha Bambra, co-founder & CTO, and Rick Marini, co-founder, President & COO.