Portofino Technologies, a Switzerland-based firm active in software development, distribution, and licensing, announced that it has come out of stealth and raised over $50M in equity funding from Valar Ventures, Global Founders Capital, and Coatue.
The company will use the funds to power digital asset adoption for institutional investors and Web3 companies.
Portofino Technologies was founded by Alex Casimo and Leonard Lancia; both of them were leaders at Citadel Securities. They started Portofino to create high-quality digital asset trading technology.
Genesis Labs aims to implement their technology across every stage of the cryptocurrency infrastructure value chain.
Portofino Technologies’s CEO and founder, Leonard Lancia, says that the company works at the cutting edge of modernizing traditional industries. Consequently, Lancia believes that Portofino’s liquidity provisioning infrastructure can greatly benefit participants of digital assets globally. Additionally, he states that this is only the beginning for Portofino. In web 3.0, every action is a transaction; according to Lancia, Portofino is creating the foundational technology for future services and industries.
Crypto Asset Liquidity offers exchange platform support for both centralized and decentralized exchanges. This is useful for Web3 projects that need liquidity for digital assets.
The Swiss company hired 35+ high frequency trading specialists from around the world over the past year while transacting billions of dollars across cryptocurrency venues that are centralized or decentralized.
Alex Casimo is the chief operating officer and founder of Portofino. He says, “Only companies with market-leading tech can capitalize on the massive opportunities in the growing Web3 ecosystem. That’s why we decided to build Portofino as a technological firm instead of a trading one. We’re happy to work with some of the world’s top investors— as well as our excellent team — as we embark on this journey.”
James Fitzgerald, Founding Partner at Valar Ventures, commented on the digital assets market’s rapid growth. He said that Portofino Technologies’ “frictionless transfer of digital assets” technology would become increasingly valuable to both institutional and retail investors. Fitzgerald praised Alex and Leo’s ability to execute their plans despite the tumultuous crypto market.
Oliver Samwer, founder of Global Founders Capital, says he is impressed with the Portofino team. He believes they are the right group to help facilitate increased participation from both retail and institutional investors in the digital asset market. Samwer went on to say, “We are excited about the potential of Portofino. You rarely find a founding team with fantastic expertise to solve the problems faced by participants in the digital asset market today.”