Stamford-based Point72 Ventures Leads $ 35 Million Funding Round at Chicago FinTech Firm

STAMFORD – Point72 Ventures, the venture capital firm founded by billionaire hedge fund investor Steven Cohen, has announced it is leading a $ 35 million Series C funding round in fintech firm Zero Hash.

“Zero Hash has developed a unique platform to help fintechs and financial institutions seamlessly integrate crypto (currency) products and experiences into their applications in a flexible and compliant manner,” said Adam Carson, Partner of Point72 Ventures, in a press release. “We believe that integrated financial solutions, like the Zero Hash crypto API platform, will help play an important role in enabling wider adoption of digital assets by allowing consumers to access crypto through apps. fintech and the financial services brands they already use and trust. ”

The new funding – which also includes contributions from a number of other investors – will help Chicago-based Zero Hash continue to expand its product offerings, which extend into decentralized finance markets ( DeFi) and non-fungible tokens (NFTs), according to company officials.

These funds will also help the company develop its team in the compliance, marketing, products and engineering divisions. The company has almost doubled its number of employees since early 2021 and recently reached profitability.

Additionally, the company said it plans to expand its global licensing framework and make acquisitions.

Zero Hash said it powers some of the biggest “neo-banks,” including MoneyLion and Wirex, as well as brokers such as flavorists and TradeStation. Zero Hash also said it is working with “some of the biggest brands in the fintech and financial services ecosystem” to deliver the next cryptocurrency offerings.

“Zero Hash defines a whole new fintech vertical of ‘digital assets as a service’,” said Edward Woodford, founder and CEO of the company, in a statement. “Zero Hash is a pure B2B embedded infrastructure platform that enables any platform to integrate digital assets natively into their own customer experience quickly and easily. “

Among other transactions in 2021, Point72 Ventures announced in February that it was leading a $ 90 million investment in Shield AI, an autonomous driving software company. In January, he revealed he was leading a nearly $ 19 million investment in fintech firm Trade Ledger. Also in January, Ventures announced that it was co-leading a $ 7 million investment in Swapp, a construction planning technology company.

Ventures was founded in May 2016, about two and a half years after Cohen, a resident of Greenwich, founded the main investment firm he now runs, the Stamford-based hedge fund Point72. The launch of Ventures responded to the large number of deals offered to Cohen.

In total, Ventures has invested in more than 70 companies. Ventures has offices at Point72 headquarters at 72 Cummings Point Road in the Waterside section of Stamford, as well as others in New York and Palo Alto, California. He operates separately from the hedge fund, but his ideas are shared with the latter.; twitter: @paulschott

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