Rocketplace
Commission-free cryptocurrency asset management and trading platform.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor investor | €0.0 | round |
| investor | €0.0 | round | |
* | $9.0m | Seed | |
| Total Funding | 000k | ||
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Rocketplace, Inc. operates as a crypto asset management and trading platform, enabling users to buy, sell, send, and receive various cryptocurrencies without commission fees. Founded in 2019 by Louis Beryl and Ben Hutchinson, and headquartered in Palo Alto, California, the company aimed to build the "Fidelity for crypto". The founding pair had previously worked together on the online lender Earnest, which was acquired by Navient in 2017 for $155 million.
The platform was designed to provide users with tools for managing and tracking their digital assets, offering deposits and withdrawals, and facilitating crypto trading. A key differentiator for Rocketplace was its plan to introduce crypto index investing. The company's business model focused on providing commission-free trading to attract users. Rocketplace secured $9 million in a seed funding round on August 18, 2022, led by Launchpad Capital with participation from investors including TTV Capital, Accomplice, Menlo Ventures, and Soma Capital. This added to a previous $8 million in pre-seed funding, bringing the total raised to $17 million. The funds were intended to expand the team and launch a fund distribution business. According to PitchBook, the company is now out of business as of December 2024.
Keywords: crypto asset management, commission-free crypto trading, cryptocurrency exchange, digital asset platform, crypto index investing, FinTech, crypto portfolio management, Louis Beryl, Ben Hutchinson, Launchpad Capital, TTV Capital