Agio Ratings, a source of risk insights in digital assets, has closed a $6 million funding round led by AlbionVC, bringing the total raised to north of $11 million. The round, which also saw participation from Portage Ventures, MS&AD and Gaingels, enables Agio Ratings to expand its research and engineering teams, broadening the scope of its risk ratings and supporting major banks as they enter the digital asset market.
Founded in 2022, Agio Ratings qualifies the risk of exchanges, custodians and lenders. This enables trading firms, insurance companies and banks to make informed decisions and optimize their risk-adjusted returns. The company was created in response to the lack of quality data needed to power standard risk assessment models in the digital asset market.
Agio Ratings uses quantitative methodologies that can capture a firm’s default risk as market conditions shift. Its data-driven approach also enables the identification of risk signals that the market underweights or neglects. The company said its models identified FTX’s high probability of default four months before the exchange’s bankruptcy, and correctly assessed that Bybit had sufficient resilience to survive its $1.5 billion security breach.
Wintermute’s head of risk, Alain Passini, shares the emphasis on good risk management:
“Growing institutional participation is transforming crypto markets and creating a greater need for credible, independent risk intelligence. Agio Ratings provides a clear, data-driven view of the probability of default for exchanges and other institutions, and their alerts deliver a valuable independent signal alongside our own monitoring by flagging anomalous transaction patterns.”
In early 2025, Agio Ratings partnered with Relm Insurance to power their crypto exchange default product. It is in discussions with the largest banks in the US and Europe to support their entry into crypto trading, lending, and stablecoin orchestration.
Ana De Sousa, CEO of Agio Ratings, said,
”We’re thrilled to have such strong backing from leading investors who understand the massive opportunity in managing crypto risk. This funding allows us to expand our team of world-class researchers and engineers while deepening our partnerships with major financial institutions. The interest we’re seeing from top-tier banks shows that they need our independent risk insights to participate safely.”
Kibriya Rahman, investor at AlbionVC, added,
“As the digital asset market continues to mature, it urgently needs independent, institutional-grade risk management. Agio Ratings has proven they can deliver exactly that. Their ability to predict major market events like FTX’s collapse while others missed the warning signs demonstrates the sophistication of their approach.
“We’re excited to back Ana and her team as they scale to meet the demand from banks, funds, and insurance companies, and become the global category leader in the space.”
