Why We Invested: Finery Markets
We’re thrilled to be investors in Finery Markets, a liquidity marketplace for institutional crypto traders. Finery Markets offers traders superior trade execution and efficiency.
According to a 2022 PWC report, over 60% of business clients are not happy with their trading setup due to poor liquidity and execution quality. This speaks to a broader issue of ambiguous regulation, market fragmentation, poor execution and liquidity quality, and a lack of institutional- grade infrastructure.
Finery sets itself apart by providing clients with firm liquidity and minimal slippage, enabling institutions to execute trades with peak efficiency. Finery’s access to multiple deep avenues of liquidity can improve trade execution by up to 0.5%. In addition, as a single outlet that delivers high quality execution vs using multiple other players, Finery also provides an easier trading experience while offering flexible parameterization (manual specification of regulatory, trading, and settlement needs) to institutional clients. Finery services banks & brokers, payment providers, OTC desks, and buy-side funds including hedge funds, passive funds, and asset managers.
Finery Markets has shown promising signs of growth for years that led Shima to an investment in 2022. After getting started in 2019, the platform demonstrated exponential year over year growth in 2021 and continued its upward trajectory in 2022. In addition to scaling the number of liquidity providers from 1 to 8, Finery has grown cumulative turnover from $1M to $3.6B.
Given the recent market volatility and implosions in the blockchain industry this past year, institutions will continue to look for stable, reliable trading solutions; this gives Finery — a best-in-class execution venue that optimizes trade performance — a sustainable edge.
Finery Markets’ founder & CEO, Konstantin Shulga, comes from a robust trading background as the Managing Director and Head of Brokerage in Electronic Trading at Sberbank CIB (http://www.sberbank-cib.co.uk/).
We can’t wait to see the continued growth and adoption of Finery Markets in 2023 and beyond and are excited to continue working with a top tier team.
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This article was also shared at yidagao.com
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About Shima Capital
Shima Capital is a leading early stage VC firm investing in disruptive blockchain companies. The fund is deeply focused on taking a hands-on approach and working closely with its portfolio companies to provide the most sweat equity per dollar invested. As teams in Web3 push the frontier of innovation, Shima helps hire talent, build community, amplify narratives, and foster the acceleration of technical research and development. Shima is composed of seasoned investors, accomplished operators, and former founders who align on a mission to support all-star teams with building and scaling generational companies. Learn more at — www.shima.capital.
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