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With $37M funding, this Estonian bot startup wants to make online crypto trading more profitable

3Commas
Image credits: 3Commas

3Commas, an Estonian automated crypto trading bot investment platform, has secured $37M in a Series B funding round led by Target Global (who also backed Lepaya), Alameda Research, Jump Capital, and Dmitry Tokarev.

How will the funding be used?

The company will deploy funds to develop further its ecosystem of digital asset trade automation and portfolio management technologies. 

The Tallinn-based company will use the capital to advance its proven machine learning and artificial intelligence trading bots to deliver higher profitability, expand its trading ecosystem, and enhance developers’ access to Application Programming Interfaces to create apps used by traders within the ecosystem.

Additionally, 3Commas will use the investment to hire a robust R&D team to create DeCommas, a recently launched subsidiary that provides users with easier access to trade automation in decentralised finance (DeFi).

“3Commas was created to help people achieve financial freedom by expanding access to complex, crypto trading strategies through powerful trading bots. Through this fundraising, our investors have shown overwhelming confidence that we are executing this vision,” says Yuriy Sorokin, CEO and founder of 3Commas. “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,” he adds. 

What it is and how does it work?

Founded in 2017 by Yuriy Sorokin, Egor Razumovskii, and Mikhail Goryunov, 3Commas is a crypto investment ecosystem that offers both manual and automated trading strategies. The company’s mission is to make trading crypto more accessible to millions of users seeking new pathways toward profitability and financial freedom. 

3Commas is a product ecosystem consisting of interconnected products for retail users, power users, developers and enterprise level professionals, that complement each other by sharing their trading strategies and signals and, thus, providing more value.

It democratizes trading for end-users and allows them to generate more revenue. 3Commas offers novice and experienced traders a complete suite of manual or fully automated bots, trading strategies, and risk and portfolio management solutions underpinned by a vast, low-latency cloud infrastructure.

The company claims that over 70% of its users profit from closing deals through the platform each month.

Target Global is a pan-European technology investment firm that invests in companies across all stages of their lifecycle, from pre-seed to pre-IPO. 

“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,” said Mike Lobanov, Founder and Partner at Target Global. “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.”

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