Helsinki-based crypto trading platform Housecat has raised $3.4m (€3) in a pre-seed funding round to support the launch of its operations.
The round saw investments from Inflection, BlueYard Capital, Notation Capital and 3KVC as well as several angel investors and early backers of Ethereum Foundation and Polkadot.
Go deeper with GlobalData
Founded last year, Housecat allows its users to copy the trades and DeFi-moves of successful traders.
After linking their wallet, users will be able to subscribe to featured asset managers, whose trades will be mirrored in their wallet.
The platform will allow anyone to become an asset manager using their skills and earn fees, according to the company.
The asset managers do not need to manage investors’ funds as they mirror their own wallet, while they can benefit from management and performance fees.
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By GlobalDataHousecat founder and CEO Ville Vesterinen said: “With Housecat we can all access the best investment opportunities in crypto without expert knowledge by mirroring successful asset managers with our money.
“All an interested investor needs to do is to link their wallet, specify the investment amount and within seconds their money is managed alongside leading asset managers. Easily tapping to the best investment opportunities in crypto sits at the heart of the product we’re building at Housecat.”
Housecat plans to start onboarding investors to its platform from March this year.
The firm has employees across Helsinki, Berlin, and Zug.
Other developments in crypto space
Recently, robo-adviser Betterment set foot in the crypto market with the acquisition of Makara.
Earlier this month, CI Financial purchased a minority holding in Newton Crypto, as part of its participation in the latter’s Series B funding round.
Last year in December, Scalable Capital introduced a new offering called Scalable Crypto for investing in digital currencies.
