Wintermute

Wintermute

Digital-asset market maker and liquidity provider

Overview

Wintermute is a global algorithmic trading firm that acts as a major liquidity provider and market maker for digital assets on both centralized and decentralized exchanges. It uses high-frequency trading strategies and advanced trading algorithms to offer competitive bid-ask spreads, earning revenue from price differences. A key product is Wintermute NODE, an OTC trading interface that lets institutional clients execute large trades directly and efficiently. Beyond core market-making, the firm is expanding to bridge TradFi and crypto by embedding digital asset spot and derivatives liquidity into traditional financial ecosystems. This combination of scalable trading platforms, institutional-focused OTC access, and cross-market integration aims to maintain market stability, improve liquidity, and support traditional institutions entering the crypto space.

About Wintermute

Simplify's Rating
Why Wintermute is rated
B-
Rated B on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Data & Analytics

Crypto & Web3

Quantitative Finance

Financial Services

Company Size

51-200

Company Stage

Series B

Total Funding

$24.8M

Headquarters

London, United Kingdom

Founded

2017

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Simplify's Take

What believers are saying

  • Institutional OTC demand supports higher-margin spot and derivatives flow.
  • Armitage expands Wintermute into DeFi vault curation and onchain lending.
  • Prediction-market market making opens a new liquidity niche for its trading stack.

What critics are saying

  • Regulatory scrutiny rises as Wintermute expands TradFi-facing OTC and proprietary trading.
  • DeFi vault failures or exploits damage trust across Wintermute's core liquidity business.
  • Exchange outages or chain disruptions across 100-plus venues impair execution and inventory management.

What makes Wintermute unique

  • Founded in 2017, Wintermute spans algorithmic trading, OTC, liquidity, ventures, and incubation.
  • It operates across CeFi, DeFi, and TradFi with proprietary high-frequency trading.
  • Wintermute combines trading infrastructure with venture support for emerging DeFi protocols.

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Funding

Total Funding

$24.8M

Below

Industry Average

Funded Over

4 Rounds

Notable Investors:
Series B funding is typically for startups that have proven their business model and need more funding to expand rapidly—often by entering new markets or adding more products. Investors are usually venture capital firms that specialize in later-stage investments.
Series B Funding Comparison
Below Average

Industry standards

$35M
$30M
Patreon
$45M
Linktree
$65M
Substack
$100M
ClickUp

Benefits

Health Insurance

Performance Bonus

Company Social Events

Growth & Insights and Company News

Headcount

6 month growth

-1%

1 year growth

-1%

2 year growth

0%
Brainrot Creations
Jul 15th, 2026
Promptwatch raises €6M to help brands appear in ChatGPT, and the week funding split into three tiers.

Promptwatch raises €6M to help brands appear in ChatGPT, and the week funding split into three tiers. A seed round for AI chatbot visibility, a $1B non-equity deal for a longevity drink, and stablecoin payments close a $38M Series A. Published July 15, 2026 The capital markets are still open, but the check sizes this week tell three different stories. On one end: a €6 million seed round for a startup that wants your brand to show up when someone asks ChatGPT for a recommendation. On the other: a $1 billion deal that doesn't involve equity at all, just a beverage company co-founded by a retired footballer. In between, there's a $38 million Series A for stablecoin payment rails, which is the sort of thing that makes sense only if you believe cross-border B2B payments are still broken enough to justify another layer. Promptwatch wants brands to rank in AI chatbots. Promptwatch raised €6 million in a seed round led by Seed + Speed Ventures, with Blum Ventures and Arches Capital also backing the Amsterdam startup. The pitch: help brands improve their visibility inside conversational AI tools like ChatGPT, Claude, and whatever Google is calling Gemini this week. The company has already opened an office in New York and says it will use the funding to expand there. The idea isn't particularly new - SEO consultants have been saying "optimize for LLMs" since late 2023 - but turning it into a funded SaaS product with enterprise contracts is the next logical step. If people are using chatbots instead of search engines to find restaurants, hotels, or software tools, then brands need a way to ensure they show up in those answers. Promptwatch is betting that most companies don't know how to do that yet and will pay someone to figure it out for them. Whether this becomes a durable category or just a feature that OpenAI and Anthropic eventually build into their enterprise tiers is the open question. For now, there's clearly investor appetite for "AI discovery" infrastructure. Velocity closes $38M to put stablecoins into business payments. Velocity announced a $38 million Series A led by Dragonfly and Firstmark, with participation from Coinbase, Capital One Ventures, QED Investors, Activant Capital, Ripple, and Wintermute. The London-based payments company is building tools that let businesses integrate stablecoins into customer checkout flows and cross-border invoicing. This is the kind of round that makes sense if you've spent any time watching a wire transfer sit in limbo for three days or trying to pay a contractor in another country without losing 4% to FX spreads and intermediary fees. Stablecoins are supposed to fix that - instant settlement, transparent fees, no correspondent banking network. The hard part has always been making it easy enough for a mid-market business to actually use without hiring a crypto-native payments engineer. Velocity's investor list is a mix of traditional fintech funds (QED, Capital One) and crypto infrastructure players (Dragonfly, Coinbase, Ripple). That split suggests the company is threading the line between "this is just better payments infrastructure" and "this only works if you believe in on-chain rails." The $38M will likely go toward compliance, integration partnerships, and convincing CFOs that stablecoin invoicing is less risky than it sounds. IM8 gets $1 billion in non-equity financing from General Catalyst. Here's where the week gets weird. IM8 secured $1 billion from General Catalyst's Customer Value Fund, which is not a traditional venture fund - it doesn't take equity. Instead, it provides financing to companies in exchange for revenue share or other non-dilutive terms. IM8 is a longevity vitamin-drink startup co-founded by David Beckham, which makes this one of the stranger capital allocation decisions of the year. The structure suggests IM8 either didn't want to give up board seats or couldn't raise a traditional round at a valuation it liked. General Catalyst's fund is designed for companies with strong unit economics that need capital for manufacturing, inventory, or distribution - things that don't require giving up control. Whether a celebrity-backed beverage startup fits that profile is debatable, but $1 billion is $1 billion. This is also a signal that large institutional funds are experimenting with non-equity structures, especially for companies in categories (CPG, hardware, physical infrastructure) where venture's traditional "grow at all costs, exit in 7 years" model doesn't fit cleanly. The rest of the funding roundup. A few other deals worth noting: * Monorale AI raised £4 million in a Series A after hitting 40,000 users in eight months. The British AI platform didn't disclose what it does, which is becoming a genre. * Flex raised $70 million led by Halo Fund to build AI-powered banking tools for mid-sized business owners, per Reuters. * TYLSemi closed $43 million to help companies design their own AI chips, founded by former AlphaWave executives. * Cyera raised $600 million at a $12 billion valuation in June for AI-enabled enterprise security, especially around AI agents. The pattern: seed rounds are getting smaller and more focused, Series A checks are going to infrastructure plays (payments, chips, security), and the billion-dollar deals are either non-equity or happening in China. If you're raising right now, the tier you're in matters more than the category.

Morpho
Jun 10th, 2026
Morpho Association Raises $175M To Build The Open Credit Network For The World

Morpho is an open credit network that connects lenders and borrowers to the best possible opportunities worldwide.

EtherWorld.co
May 28th, 2026
Ethereum Security QF round closes with record 637 ETH matching pool backing 134 projects

Ethereum's Security Quadratic Funding Round has closed with a record 637 ETH matching pool, supporting 134 projects focused on blockchain security. Organised by TheDAO Security Fund and Giveth, the round ran from 23 April to 14 May 2026. TheDAO Security Fund provided a 500 ETH anchor contribution, with additional backing from Wintermute ($200,000), Quantstamp ($50,000) and CredShields ($5,000). The round attracted 3,934 unique donors who made 13,805 donations totalling over $315,000. SEAL 911 topped the funding rankings with 31.2 ETH in matching funds, followed by The Red Guild (27.8 ETH) and ZachXBT (25.4 ETH). The round used Cluster-Oriented Cluster Matching to prevent gaming and ensure fair allocation, with verified security professionals receiving a 4× multiplier in matching calculations.

BitcoinEthereumNews
Mar 30th, 2026
Astriax Receives $30M Investment from Wintermute to Advance AI-led On-Chain Trading

Asterix, an AI-led trading entity, has obtained a notable investment from Wintermute, a renowned crypto liquidity provider. Specifically, Wintermute has

NeoFeed
Mar 25th, 2026
International investors back fintech's stablecoin payment thesis in Brazil

Unblockpay, a Brazilian fintech specialising in global payments via stablecoins, has raised $4.5 million (R$23.6 million) in a seed round led by London-based Prelude, valuing the company at $20 million (R$105 million). Plug Pay, Wintermute, Crescera and Triaxis also participated. Founded by former Stone partners, the company has processed over R$100 million and serves 40 clients, including Mercado Bitcoin. It currently has ten employees and operates across 34 European countries plus the US, UK, Mexico, Argentina and Colombia. Part of the funding will support regulatory compliance as Brazil's Central Bank implements new rules for virtual asset service providers. The company also plans to expand its team and connect to the Swift network. Unblockpay expects to process R$1 billion monthly by year-end.

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