A Next-Generation Asset Management Platform Emerges
Fintech startup Rocketplace has secured $9 million in a seed funding round, aiming to build a next-generation asset management platform for the crypto space.
At a time when the crypto market is experiencing a downturn, often referred to as the "crypto winter," and prominent players like Voyager and Celsius have faced bankruptcy, Rocketplace’s funding stands out. The startup’s vision goes beyond traditional crypto exchanges by focusing on fund distribution and management.
A New Approach to Crypto
Rocketplace offers commission-free trading of over 30 tokens and seeks to revolutionize the way investors interact with digital assets. According to CEO Louis Beryl, the platform is not just another crypto exchange but a comprehensive solution for the growing number of new financial products expected in the crypto space.
The Fund Distribution Model
Beryl explains that in traditional finance, Fidelity’s business model has two main areas: retail and institutional. Within retail, there are customer accounts allowing for buying and selling of stocks and bonds, while on the other side, fund distribution is a crucial component. Fidelity started creating its own funds and partnering with competitors’ funds, building a business around fund custody and administration.
Rocketplace is following a similar approach but in the crypto space. "We’re building a platform that offers a holistic user experience," Beryl says. The focus on human-centric design aims to make crypto more accessible and transparent for all investors.
Investor Confidence
The seed funding round was led by Launchpad Capital, with participation from TTV Capital. Gardiner Garrard, co-founder and managing partner at Atlanta-based TTV Capital, expressed the firm’s enthusiasm for Rocketplace’s mission: "Making crypto more approachable, intelligent, and transparent is essential."
A Promising Future
Rocketplace’s vision of creating a brand akin to Fidelity or Charles Schwab in traditional financial services has sparked excitement among investors. With this significant funding, the startup is poised to make its mark on the crypto landscape.
Key Points:
- Rocketplace secures $9 million in seed funding
- The startup aims to build a next-generation asset management platform for crypto
- Focusing on fund distribution and management beyond traditional exchanges
- Inspired by Fidelity’s business model, Rocketplace seeks to create a comprehensive solution
- Investors show confidence in the company’s mission to make crypto more accessible
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