Swiss FinTech Veax lands $1.2m pre-seed


Veax, a Swiss-based firm that offers a traditional finance-empowered decentralised exchange, has scored $1.2m in pre-seed investment.

Backers in the pre-seed include Proximity Labs, Tacans Labs, Outlier Ventures, Skynet Trading, Qredo and Proximity Labs.

Founded in 2022, Veax is an advanced single-sided liquidity management DEX natively on the Near blockchain with TradFi-empowered features.

The launch of the platform will bridge traditional finance features with liquidity deployment and flexibility provided by decentralized infrastructure, allowing a transition for the centralized exchange and traditional finance users to test it out in DeFi.

Veax intends to use the funds to launch its platform, expand operations and expand its business reach.

According to FinSMEs, Veax is currently on track to launch its v1 Testnet in early December and the research paper on the adaptable liquidity pool.  Going forward, the project will launch on Mainnet by the end of the year and the public token sale is scheduled in Q1 2023.

Prosper Marketplace, a peer-to-peer lending platform in the US, has recently closed a new $75m financing round from Neuberger Berman.

According to Prosper, the new capital will enable the firm to meet strong consumer demand for its personal loan, credit card, home equity and investment products, as well as accelerating growth opportunities for the company over the coming years.

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