When was Algofi founded?

Algofi was founded in 2021 and raised its 1st funding round within a year of its incorporation.

Where is Algofi located?

Algofi is headquartered in New York City, United States.

How many employees does Algofi have?

As of Jul 01, 2024, the latest employee count at Algofi is 8.

Is Algofi a funded company?

Algofi is a funded company, having raised a total of $2.92M across 2 funding rounds to date. The company's 1st funding round was a $***** Seed round, raised on Sep 01, 2021.

When was the latest funding round of Algofi?

Algofi's latest funding was a $***** Seed round on Nov 30, 2021, with participation from 6 investors.

Where does Algofi rank among its competitors?

Algofi ranks 164th amongst 1652 active competitors, of which 268 are funded. It stands 11th in terms of total funding among its competitors. The most recent competitor to raise funding was River Financial, which secured $35M in May, 2023.

Who are the top competitors of Algofi?

Algofi's top competitors include Consensys, Coins.ph and Luno. Among them, River Financial secured the most recent funding round in May, 2023.

Algofi - 2026 Company Profile, Team, Funding & Competitors

Algofi is a seed company based in New York City (United States), founded in 2021 by Owen Colegrove and John Clarke. It operates as a Financial solutions for cryptocurrencies. Algofi has raised $2.92M in funding from investors like Y Combinator, Union Square Ventures and Pillar VC. The company has 1652 active competitors, including 268 funded and 49 that have exited. Its top competitors include companies like Consensys, Coins.ph and Luno.

Company Details

Financial solutions for cryptocurrencies. It offers solutions such as an exchange platform for converting USD into USDC, depositing crypto for borrowing loans, and more. It features Algorithmic Money Market for accessing trading accounts, savings accounts, and more.

Key Metrics

Founded Year

2021

Location

New York City, United States

Stage

Seed

Total Funding

$2.92M in 2 rounds

Latest Funding Round

Seed, Nov 30, 2021, $*****

Investors

Y Combinator & 7 more

Ranked

164^th among 1652 active competitors

Employee Count

8 as on Jul 01, 2024

Similar Companies

Consensys & 2646 more

View Algofi's full profile

Algofi has raised a total funding of $2.92M over 2 rounds. Its first funding round was on Sep 01, 2021. Its latest funding round was a Seed round on Nov 30, 2021 for $*****. 6 investors participated in its latest round. Algofi has 8 institutional investors.

Here is the list of recent funding rounds of Algofi:

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Nov 30, 2021	9952176	Seed	3966756	6509960	8704085	4860528
Sep 01, 2021	8870927	Seed	2458893	4969335	Y Combinator	7931254

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View details of Algofi's funding rounds and investors

The founders of Algofi are Owen Colegrove and John Clarke.

Here are the details of Algofi's key team members:

Owen Colegrove: Former Co-Founder of Algofi and founder of 1 other company.
Contact Info: 2 email addresses
John Clarke: Former Co-Founder of Algofi.
Contact Info: 1 email address

View details of Algofi's Founder profiles and Board Members

Algofi's employee count trend

Algofi has 8 employees as of Jul 24. Here is Algofi's employee count trend over the years:

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Top competitors of Algofi include Consensys, Coins.ph and Luno. Here is the list of Top 10 competitors of Algofi, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	Consensys 2014, Fort Worth (United States), Series D	Developer of blockchain and web3 software platform	$725M	Temasek, Sound Ventures & 57 others	81/100
2nd	Coins.ph 2014, Pasig (Philippines), Acquired	Digital wallet for Bitcoin assets	$40M	Naspers, Ribbit Capital & 15 others	80/100
3rd	Luno 2013, London (United Kingdom), Acquired	App-based platform for crypto wallet and investments	$13M	Naspers, Balderton Capital & 12 others	80/100
4th	FalconX 2018, San Francisco (United States), Series D	Online platform offering cryptocurrency trading and investment solutions for institutions	$430M	B Capital, GIC & 26 others	79/100
5th	BlockFi 2017, Jersey City (United States), Acquired	Online platform for trading, crypto-backed loans, interest accounts, and wallets	$466M	Valar Ventures, Bain Capital Ventures & 64 others	78/100
6th	Amber Group 2017, Singapore (Singapore), Series C	Provider of blockchain-based financial solutions	$628M	Temasek, Paradigmcap & 32 others	76/100
7th	AVA 2018, Brooklyn (United States), Series B	Blockchain platform for smart contracts and custom subnets	$368M	Andreessen Horowitz, Metastable Materials ... & 22 others	75/100
8th	Fireblocks 2018, New York (United States), Series E	Provider of an online platform for crypto custody, payments, tokenization, and wallet-as-a-service	$1.04B	Spark Capital, Stripes & 38 others	74/100
9th	River Financial 2019, San Francisco (United States), Series B	Blockchain focused investment firm	$70M	Goldcrest, Kingsway Capital & 19 others	74/100
10th	Safe Ecosystem Foundation 2018, Zug (Switzerland), Series D	Decentralized custody protocol and asset management platform on Ethereum and the EVM	$112M	1kx, Tiger Global Management & 10 others	73/100
164th	Algofi 2021, New York City (United States), Seed	Financial solutions for cryptocurrencies	$2.92M	Union Square Ventures, Y Combinator & 6 others	42/100