Exponential Exchange Closes $7.4M Seed Funding Round
Summary
The round, which brought the total amount to $8.8M, was led by MaC Venture Capital. The company intends to use the funds to execute on its plan to pilot multiple OTC transactions while building the infrastructure required for exchange-traded futures. Led by CEO Ryan Naughton, Exponential Exchange is creating a series of financial instruments designed to offer new levels of financial protection for participants in a variety of asset classes. These tools will allow hedgers to offset exposure to adverse price movements via derivatives that settle against Exponential-powered indices. Its initial product, the Exponential Used Vehicle Index, is designed to offer an efficient and effective method for tracking used vehicle values using data sets and modern data science techniques.