DEXTF, the fintech company based in Singapore, founded by the Italians Mario Aquino, Nicola Dalmazzo, Filippo Fanin and Federico Cristina, has cashed in a 460k dollars investment round funded by LuneX Ventures (the arm dedicated to blockchain part of Golden Gate Ventures), SGInnovate (funder of Singapore-based Deep Tech startups), the London-based investment management company CDAM and other private investors.Crowdfund Inside and various online newspapers are reporting about the deal.
DEXTF (acronym of Decentralized Traded Funds), founded in 2017, thanks to the blockchain aims to revolutionize the asset management sector, acting as a bridge between peer-to-peer investors and managers, eliminating the need for intermediaries. Its platform allows you to delegate investment decisions, without transferring ownership of the assets.
With the support of its strategic partner Mindful Wealth (a wealth management boutique based in Singapore, where Federico Cristina works as a senior financial consultant), DEXTF is currently working on completing its proof of concept. The startup aims to initially sell the platform to traditional financial institutions, in order to lower management costs and allow portfolio managers to access new types of investments. “We decided to start from Singapore, because we all already lived here, but we look at Italy with curiosity and we are open to launch soon elsewhere”, co-founder Federico Cristina explained.
DEXTF will use the new capital to officially launch the platform and further develop its technology. “We believe that this co-investment of LuneX Ventures and SGInnovate will be synergistic for our growth and technological development, as we try to build DEXTF as a global platform”, explained the co-founder and president of the startup fintech Aquino.
Heng Soon Pang, SGInnovate’s Head of Venture Building, said: “Investing in digital assets remains an area of constant interest, but many consider the current investment infrastructure inadequate for investors and fund managers. By leveraging blockchain technology, the DEXTF protocol seeks to bridge this gap and democratize digital asset management in a secure and scalable way. We are excited to be co-investors in the DEXTF seed funding phase, to help scale their platform globally “.