About Spin
Spin is a company based in Finland founded in 2021. It operates as a API-as-a-Product, Commission-Based, and Two-Sided Marketplace. Spin has raised $3.75 million across 1 funding round from investors including Lemniscap, Spartan Group and GSR Markets. Spin offers products and services including Spot Trading, Perpetual Trading, DOV Strategies, and Freaky Elves NFT. Spin operates in a competitive market with competitors including Chainge, Thetanuts Finance, Opyn, Synquote and Etrading Software, among others.
- Headquarter Finland
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Sectors
Financial Services
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Phone
*********
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Website
*********
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Social
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$3.75 M (USD)
in 1 rounds
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Latest Funding Round
$3.75 M (USD), Seed
Feb 03, 2022
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Investors
Lemniscap
& 5 more
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Employee Count
Employee Count
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Products & Services of Spin
Spin offers a comprehensive portfolio of products and services, including Spot Trading, Perpetual Trading, DOV Strategies, and Freaky Elves NFT. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Secure token trading is offered on-chain with transparency.
Leveraged trading is provided to maximize profits or hedge.
Automated yield strategies are managed for high returns on-chain.
Generative NFT collection is offered to enhance trading experience.
Funding Insights of Spin
Spin has successfully raised a total of $3.75M through 1 strategic funding round. The most recent funding activity was a Seed round of $3.75 million completed in February 2022. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 1
- Last Round Seed — $3.8M
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First Round
First Round
(03 Feb 2022)
- Investors Count 6
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Feb, 2022 | Amount | Seed - Spin | Valuation | Lemniscap |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Spin
Spin has secured backing from 6 investors, including venture fund and institutional investors. Prominent investors backing the company include Lemniscap, Spartan Group and GSR Markets. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Venture capital investments are directed toward blockchain startups by Lemniscap.
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Founded Year | Domain | Location | |
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Advisory, venture capital, and startup services for blockchain are provided.
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Founded Year | Domain | Location | |
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Investments in tech startups are made by ZMT Capital.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Spin
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Spin
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Spin Comparisons
Competitors of Spin
Spin operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Chainge, Thetanuts Finance, Opyn, Synquote and Etrading Software, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
App-based platform for trading in cryptocurrency
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| domain | founded_year | HQ Location |
Cryptocurrency option strategies are offered via an online platform.
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| domain | founded_year | HQ Location |
Defi option trading platform
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| domain | founded_year | HQ Location |
Crypto options are traded on Synquote's decentralized platform.
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| domain | founded_year | HQ Location |
Financial software services are provided for investment industries.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Spin
Frequently Asked Questions about Spin
When was Spin founded?
Spin was founded in 2021 and raised its 1st funding round 1 year after it was founded.
Where is Spin located?
Spin is headquartered in Finland.
Is Spin a funded company?
Spin is a funded company, having raised a total of $3.75M across 1 funding round to date. The company's 1st funding round was a Seed of $3.75M, raised on Feb 03, 2022.
What does Spin do?
Spin is established as a decentralized trading ecosystem built on the NEAR blockchain. Trading solutions such as spot, perpetual, and options are provided with an on-chain order book for transparency and deep liquidity. Investment products like Decentralized Option Vaults (DOVs) are offered to maximize yields through automated strategies. Additionally, digital assets including the Freaky Elves NFT collection are integrated to enhance user engagement. Partnerships with entities like Ref Finance and NearPay are maintained to improve liquidity and fiat-to-crypto transactions. The platform is focused on Web3 innovation, targeting sectors like DeFi and blockchain applications.
What products or services does Spin offer?
Spin offers Spot Trading, Perpetual Trading, DOV Strategies, and Freaky Elves NFT.
Who are Spin's investors?
Spin has 6 investors. Key investors include Lemniscap, Spartan Group, GSR Markets, ZMT Capital, and LongHash Ventures.