River Markets announced Tuesday that it raised $8.5 million in a seed round led by Haun Ventures, with participation from Y Combinator and Coinbase Ventures; the round closed in July. The startup provides a platform that allows professional traders to trade across multiple prediction markets from a single interface.
Co-founded by CEO Oscar Levy and CTO Antonin Parrot, River Markets launched in May and is on track to exceed hundreds of millions of dollars in annualised trading volume by year-end.
Prediction markets and institutional demand
The company said the funding reflects growing institutional interest in prediction markets as financial tools for hedging risks and trading on economic events.
Planned use of proceeds
River Markets plans to use the capital to hire engineers, build faster trading systems and expand its sales and operations teams.
