Vest completes $13 million seed round, led by Portal Ventures

On October 7 that, according to Fortune, Vest Labs has closed a $13 million seed funding round led by Portal Ventures, with individual investments from several executives at Citadel Securities, BlackRock, and KKR. The valuation was not disclosed.

Vest allows qualified traders to trade perpetual futures around the clock using company capital, with traders able to retain up to 80% of their profits. The proceeds will be used for mobile application development, team expansion, and broadening tradable asset categories. As of late September, the platform had approximately 27,000 traders, 26% of whom have received profit-sharing payouts.