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Exponential Exchange Closes $7.4M Seed Round To Fund Further Development Of Risk Mitigation Tools For The Automotive Ecosystem

PRIVATEJul 26, 2023

Amount Raised

$7.4 Million

Round Type

Seed

WashingtonFinancial ServicesAutomotive

Investors

Avanta VenturesAutotech VenturesMa C Venture Capital

Description

Financial innovation platform Exponential Exchange today announced the successful close of an oversubscribed $7.4 million seed funding round led by MaC Venture Capital to continue building a suite of financial instruments designed to bring new risk-management solutions into the automotive ecosystem and other industries with underserved asset classes.

Quick answer

Exponential Exchange raised $7.4 Million in a Seed round, dated July 26, 2023. Investors: Avanta Ventures, Autotech Ventures and Ma C Venture Capital. Exponential Exchange is based in Washington, United States.

How much did Exponential Exchange raise?
Exponential Exchange raised $7.4 Million in a Seed round on July 26, 2023.
Who invested in Exponential Exchange?
Avanta Ventures, Autotech Ventures and Ma C Venture Capital are named as investors in this round.
What does Exponential Exchange do?
Exponential Exchange is a modern exchange for the new economy.
Where is Exponential Exchange based and how big is it?
Exponential Exchange is based in Washington, United States.
Who are the decision-makers at Exponential Exchange?
Fundz holds 1 contact at Exponential Exchange, including the Head of Index Products and R&D. Names and contact details are shown to Fundz members.

Source: Fundz verified event record.

Who else raised in Financial Services and Automotive around the same time

Companies in the same sectors as Exponential Exchange that raised within 45 days of this round, from Fundz verified event records.

  • Faraday Future Intelligent Electric raised $90M (Funding Round) on June 27, 2023.
  • Felix Technologies raised $8M on September 8, 2023.
  • Embrace Software raised $10M on September 8, 2023.
  • Tradeteq raised $13M (Funding Round) on September 8, 2023.
  • Ola Electric raised an undisclosed amount (Funding Round) on September 7, 2023.
  • R&T Deposit Solutions raised an undisclosed amount (Corporate Round) on September 7, 2023.

Who to call at Exponential Exchange, and when

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Company Information

Company

Exponential Exchange

Location

Washington, United States

About

Exponential Exchange is a modern exchange for the new economy. Exponential Exchange is developing a series of novel indices, tradable financial instruments and a financial innovation platform to manage the risks and opportunities posed by the digital economy and transportation revolution. Exponential Exchange is led by an experienced founding team spanning expertise in derivative markets, structured finance, fintech, data science, and specialized sector experience in automotive finance. Collectively our team has previously co-founded two derivative exchanges (Chicago Climate Exchange and American Financial Exchange) and launched numerous exchange traded products. Exponential Exchange’s launch products are cash settled index futures contracts on wholesale vehicle prices. Currently there is over $500 billion in unhedged exposure to fluctuations in used vehicle valuations. This risk resides in leasing portfolios ($300B), rental fleets ($60B), other commercial fleets, and subprime portfolios. Volatility in used vehicle valuations, as witnessed during the pandemic and the 2008 financial crisis, represent an existential threat to their business and can result in catastrophic financial consequences. Having previously managed this risk for two decades within the auto-finance industry, we have developed novel derivatives to more efficiently mitigate this exposure.

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Related People

1 contact
Verified contactsPaul F., Head of Index Products and R&D hiddenSee plans and pricing
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Exponential Exchange raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.

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