Seoul, Korea – June 29, 2022 – League of Traders, the social trading platform that enables users to copy trade and participate in competitive trading leagues against peers, today announced it secured $2.4 million in pre-series A financing. The round was led by C3 VC Fund, a venture capital firm based in Frankfurt, Germany that invests in exceptional technology companies worldwide. Additional funding has been provided in this round by Mirana Ventures, the investment arm of ByBit, and Cadenza Capital Management.
The funding will enable the crypto social trading platform to expand its user offerings and improve current copy trading features. League of Traders encourages novices to participate in crypto trading by enabling users to copy the portfolio and trades of more advanced traders at the click of a button. The app further allows users a chance to prove their skills in competitive trading leagues with cash prizes for top finishers. In 2022, users’ trading volume connected to the League of Traders platform has been over $4 billion per month with April alone topping $5.4 billion. League of Traders is leveraging this knowledge to better predict market trends, build automated copy trading strategies and provide traders with insightful analytics.
“League of Traders really impressed us with their approach to social trading in the crypto space,” said Davis Bourland, Investment Manager at C3 VC Fund. “With trading competitions, leaderboards and copy trading, the League of Traders platform provides a truly unique experience for both top traders and newcomers alike. We see a larger trend toward the convergence of social, gamification, crypto trading, and marketplaces, and League of Traders is innovating directly at this intersection.”
Founded in 2019, Korea-based League of Traders secured past investments with Alameda Ventures, BitMEX and Neowiz (an IPO game publisher in Korea).
“This investment will enable League of Traders to develop and launch exciting new features that empower both novice and experienced traders,” said John Ting Li, CEO of League of Traders. “Our team is developing a radically new paradigm for social and copy trading that reimagines the relationship between traders.”
“We have been impressed by the dedication and pace of development from the League of Traders team since their first funding round,” said Kumar Dandapani, Managing Partner at Cadenza Capital Management. “The early growth of their platform is comparable to Robinhood and eToro, and we strongly believe in the potential for social and copy trading applications in global, 24/7 markets like crypto.”
“As the Venture Partner of Bybit, we are excited for League of Traders to be deepening their collaborations with Bybit in the upcoming months,” said David Toh, Partner at Mirana Ventures. “By co-hosting trading competitions, we hope League of Traders can create more opportunities for experienced traders to distinguish themselves and for retail traders to identify them so that trading can be easier and more fun for all.”
For more information or to download the League of Traders app, visit their website.
About C3 Management and C3 VC Fund
C3 Management GmbH is an asset management company focused on managing venture funds which invest in exceptional blockchain technology companies worldwide. C3‘s mission is, among other things, to accelerate growth, development and especially adoption of EOSIO-based blockchains and the EOSIO software. Towards this mission, C3 manages the C3 VC Fund, which is partly funded by Block.one and offers developers and entrepreneurs the funding they need to create community-driven businesses leveraging EOSIO. C3 VC Fund focuses on early and growth stage technology companies. C3 VC Fund operates worldwide and is located in Frankfurt, Germany.
About League of Traders
League of Traders is a social trading service that allows traders to visually track assets across exchanges, and make informed trading decisions. League of Traders transforms crypto trading into a gamified social experience with leaderboards, trader profiles, multi-exchange asset visualization, and community news and engagement. To learn more about League of Traders visit the website, Twitter or Telegram. Download the app here.