Estonian crypto bot startup raised $37M

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Estonian crypto bot startup raised $37M
©  3Commas

3Commas, an Estonian automated crypto trading bot investment platform, has secured $37M in a Series B funding round led by Target Global, Alameda Research, Jump Capital, and Dmitry Tokarev.

How will the funding be used?

The company plans to use funds to further develop their digital asset trade automation and portfolio management ecosystems.

By using the capital, this Tallinn-based company will improve their proven trading bots that use artificial intelligence and machine learning. Their goal is to increase profitability, broaden the range of trading options, and open up Application Programming Interfaces for developers to create apps for traders.
3Commas recently launched DeCommas as a DeFi trade automation subsidiary. The money from investors will go towards hiring a robust R&D team to continue creating new products.

Yuriy Sorokin is the CEO and founder of 3Commas. He says the company was founded to help people achieve financial freedom by making crypto trading strategies more accessible. Through fundraising, investors have shown great confidence that 3Commas can execute this vision, Sorokin adds. He also says they are excited to build tools that democratize access to transformational benefits of crypto through tech development. Furthermore, he says they will make 3Commas a destination for investment apps through developer tools and relentless technology advancement.

What it is and how does it work?

In 2017, Yuriy Sorokin, Egor Razumovskii and Mikhail Goryunov founded 3Commas. This crypto investment ecosystem offers both automated and manual trading strategies. Its mission is to offer new profitable trading options to millions of people looking for ways to make money and become financially free.

3Commas offers products for both retail and enterprise customers. These products work together to provide more value by sharing strategies, signals and other data between each other.
3Commas makes trading accessible to everyone. Its tools help both experienced and novice traders earn more money. The platform provides options for manual and automated trading bots, risk management strategies and portfolio management. Additionally, it’s supported by a large cloud infrastructure with low latency that’s built for fast execution of trades.

The company claims that over 70% of its users close deals each month through the platform.

Target Global is a European technology investment firm that invests in different companies at different stages of their lives, ranging from pre-seed to pre-IPO.

Mike Lobanov is the founder of Target Global and a 3Commas partnership partner. He said, “3Commas has put together a great team and fantastic leadership to develop the dominant platform for bringing the next 100 million crypto users into the ecosystem. Their automated trading and portfolio management tools offer unmatched access to prosperity for most crypto users.”


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