Quantitative trading startup Theo completed a $20 million financing, led by Hack VC and others

PANews reported on April 24 that according to Fortune, quantitative trading startup Theo completed a $20 million financing, and the platform is committed to providing ordinary investors with strategic returns that were originally high-frequency trading companies. The company was co-founded by former Optiver trader Abhi Pingle and TK Kwon. In March 2024, it received a $4.5 million seed round led by Manifold Trading, and in April 2025, it received another $15.5 million additional investment led by Hack VC and Anthos Capital. Other investors include Flowdesk, Selini Capital and individual investors from Citadel, JPMorgan Chase and other institutions.

Since its launch in June 2024, Theo platform has absorbed US$50 million in deposits. The average user yield in the past three months is 7%-8%, and the annual income reaches 18%-20%. The platform name comes from the trading term "theoretical price". It is currently mainly connected to DeFi protocols such as Aave, but plans to expand its business to centralized exchanges such as Binance. The founder said that the deposit limit will be cancelled by the end of April and will also be connected to traditional financial markets in the future. Both rounds of financing were in the form of token warrants, and the company's valuation was not disclosed.