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DeFi trading platform prePO snags $2.1 million in strategic round
The prePO platform will offer retail investors the same access as institutions and hedge funds to speculate on pre-IPO IPOs The funding will be used to further develop the platform ahead of its expected launch in the second quarter of 2022 Decentralized protocol prePO announced on Wednesday that it has closed a $2.1 million strategic funding round led by Republic Capital and IOSG Ventures ahead of the trading platform's upcoming launch in the second quarter. In a press release shared with Blockworks, prePO said it would use the funding to strengthen its efforts to “democratize” pre-public investments. The …
DeFi trading platform prePO snags $2.1 million in strategic round
- Die prePO-Plattform wird Privatanlegern den gleichen Zugang bieten wie Institutionen und Hedgefonds, um auf vorbörsliche Börsengänge zu spekulieren
- Die Finanzierung wird für die Weiterentwicklung der Plattform vor dem erwarteten Start im zweiten Quartal 2022 verwendet
Decentralized protocol prePO announced on Wednesday that it has closed a $2.1 million strategic funding round led by Republic Capital and IOSG Ventures ahead of the trading platform's upcoming launch in the second quarter.
In a press release shared with Blockworks, prePO said it would use the funding to strengthen its efforts to “democratize” pre-public investments. The new funding adds to the protocol’s previous seed capital of $1.1 million in July 2021.
The platform, which is not yet live, is intended to provide exposure for retail investors to speculate on the valuation of pre-IPO companies or pre-token projects. The first version of the platform is expected to launch on Ethereum scaling solution Arbitrum shortly after its token launch in the coming months.
“We currently live in a society of financial exclusion,” the minutes say Online documentation. “All investors are missing out on opportunities because there are limited spaces on a cap table.”
Participation in the round was from MEXC, AscendEX, GCR, Shima Capital, Caballeros Capital, Dexterity Capital, HoneyDAO, NeptuneDAO; The founders of Gnosis, 1inch, Moonbeam, Zapper, Gelato, among others, were there.
“We are incredibly grateful to have such a high-profile group of supporters,” said prePO founder Xavier Ekkel. “Their industry expertise, deep networks, funding and long-term support will be invaluable in accelerating prePO’s growth.”
The protocol consists of three main stakeholders, each with their own responsibilities, including traders, liquidity providers and “pregens” – those who vote on DOA proposals on changes to the protocol.
By using prePO, retail investors would gain access to opportunities that venture capitalists, institutional investors and private equity firms “have exclusively enjoyed for decades,” the protocol said in its release.
Investors can also use the platform to hedge their exposure to pre-IPO assets in their portfolio or to receive transparent and up-to-date market prices, the protocol added.
“prePO’s groundbreaking design ensures that there is sufficient liquidity for speculation and that liquidity providers are risk-limited and appropriately rewarded,” said Ray Xiao, Principal at IOSG Ventures.
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Post-DeFi trading platform prePO Nabs $2.1M in strategic round is not financial advice.