Vest Labs Completes $13 Million Seed Round, Led by Portal Ventures

Odaily News: Vest Labs has announced the completion of a $13 million seed round led by Portal Ventures, with participation from executives of Citadel Securities, BlackRock, and KKR investing in their personal capacities. The company did not disclose its post-funding valuation. Vest Labs primarily provides eligible traders with the ability to trade perpetual contracts around the clock in real markets using the company's capital, with traders allowed to keep up to 80% of profits. The funding will be used to develop a mobile app, expand the current 22-person team, and increase the variety of assets available for round-the-clock trading. As of late September, approximately 26% of the platform's roughly 27,000 traders had received cash payouts, with monthly active traders and trading volume both growing over 300% month-over-month.