WOO Network has recently raised $30 million from its Series A funding round — participated by investors like Three Arrows Capital, Crypto.com Capital, Gate Ventures, and many other trading institutions, exchanges, venture funds, and research firms.
The strategic equity round was a resounding success, having been oversubscribed by 200%. Prior to the round, WOO X –a trading platform that offers top market liquidity at lower to zero trading fees for traders — and the alpha launch of WOOFi — a decentralized exchange platform that offers the best possible swap prices and reduced slippage at lower fees — were successfully rolled out.
While the exchange landscape is growing more competitive, WOO X is poised to make a mark with its deep liquidity coupled with lower to zero-fee trading – these two propositions are phenomenally useful for institutional and retail traders to achieve superior trading execution.
Su Zhu, Co-Founder at Three Arrows Capital
A portion of the new capital will go to global market expansion effort via talent acquisition and the opening of a new R&D office in Warsaw. Another portion will also be used for the development of new product lines including futures, social trading, and a range of cutting-edge DeFi trading and yield generating products.