3Commas said that it will use these funds for advancing its machine learning and AI trading bots and deliver higher profitability.
On Thursday, September 22, automated crypto trading bot platform 3Commas announced that they have secured $37 million in funding in a Series B investment round led by investment firms such as Alameda Research, Target Global, and Jump Crypto. Dmitry Tokarev, founder and CEO of Copper also participated in the funding.
3Commas is popular in the crypto space for offering advanced trading tools and automated strategies managed by trading bots. By using 3Commas, users benefit by having access to the historical performance of different trading strategies and tools. Thus they can easily replicate the winning strategies via 3Commas’ automated trading features
The recent fundraising will help 3Commas to further develop its ecosystem of offering industry-leading crypto trade automation services. The fundraising capital will also help 3Commas in advance its machine learning and AI trading bots and deliver higher profitability.
The automated trading platform can also enhance developers’ access to Application Programming Interfaces (APIs) for building apps users by 3Commas’s traders within the ecosystem. Yuriy Sorokin, CEO and founder of 3Commas said:
“3Commas was created with the goal to help people achieve financial freedom by expanding access to complex, crypto trading strategies through powerful trading bots. Through this fundraise, our investors have shown overwhelming confidence that we are executing this vision. We are excited to continue to build technology that democratizes access to the transformational benefits of crypto by relentlessly advancing our technology and offering a suite of developer tools to make 3Commas the destination for investment app innovation.”
3Commas is also currently focusing on building a robust R&D team to create DeCommas. This subsidiary will provide users easy access to automated trading in decentralized finance (DeFi).
About 3Commas and Its Funding
The automated trading platform 3Commas works as an entire product ecosystem. It provides a mix of several interconnect products for retail users, power users, enterprise-grade professionals, developers, and others.
The automated trading platform focuses on helping traders generate more profit for their trades. Every month, 3Commas helps nearly 70% of the traders earn profit by closing the deals through the platform. Mike Lobanov, Founder and Partner at Target Global said:
“The leadership and talent 3Commas has put in place has put them in a very strong position to be the dominant platform to onboard the next 100 million users to crypto through their automated trading and portfolio management capabilities. By creating an ecosystem of tools that work both in CeFi and DeFi 3Commas family of products provides unparalleled access to prosperity for the vast majority of crypto users.”
3Commas has raised its first $3 million seed fund back in November 2020.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
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