Slovak Fintech altFINS, which Offers Platform for Analyzing and Trading Digital Assets, Acquires €1 Million in Seed Funding

altFINS, a platform that allows users to screen, analyze, and trade crypto-assets, has secured more than €1 million in seed funding. altFINS’ round was led by CB Investment Management.

The Fintech company said that the funds raised will be used to enhance the platform’s capabilities and will also be used to scale its services. The company aims to serve even more private and institutional clients by helping them make informed investment related decisions and assist them with gaining exposure to crypto-assets.

Established in 2018, altFINS aims to offer a comprehensive, and user-friendly or intuitive platform that allows traders to aggregate financial data and news updates. Traders that use altFINS are able to analyze different altcoins (alternative coins besides Bitcoin).

Investors that use altFINS are able to identify and carry out their trade ideas while also keeping track of their crypto-asset portfolios across different digital asset exchanges. Cryptocurrency markets are quite fragmented with well over 1,000 different digital assets traded via 300 exchanges.

According to altFINS, the majority of industry participants are focused on trade execution – which includes building products and services for brokers, exchanges, OTC desks, and trading tools. Meanwhile, altFINS will focus on pre-trade and post-trade analytics, allowing traders to come up with unique crypto trading ideas and being able to make sense of their performance across several different exchanges.

Nearly 800 US and European institutional clients, responding to Fidelity’s survey, said that crypto-assets are becoming increasingly popular. Around 80% or 4 in 5 institutional investors stated that digital assets are an appealing asset class. About 36% claimed that they’ve invested in crypto-assets.

Richard Fetyko, founder at altFINS, remarked:

“We estimate that there are around 50 million crypto investors today and we believe that crypto will continue to gain an allocation in most investors’ portfolios, particularly among millennials and the digital native generation Z. altFINS will be there to guide them along the investment path and help them to achieve their wealth management goals.”

Dano Gašpar, partner at CB Investment Management, noted:

“altFINS has [identified] a [key requirement in] the market that [needs to be addressed.] [There’s a] lack of high-quality tools for investment analytics and [we] need professional digital assets management infrastructure at the same time. We believe in the strong growth potential of altFINS on a global scale, especially now in an era of financial uncertainty in the traditional markets.”

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