PANews reported on April 24 that according to Fortune, the quantitative trading startup Theo has completed a $20 million financing. The platform is committed to providing ordinary investors with the strategic returns that originally belonged to high-frequency trading companies. The company was co-founded by former Optiver traders Abhi Pingle and TK Kwon. In March 2024, it received a $4.5 million seed round of financing led by Manifold Trading, and in April 2025, it received an additional investment of $15.5 million led by Hack VC and Anthos Capital. Other investors include Flowdesk, Selini Capital and individual investors from companies such as Citadel, JPMorgan Chase, Jane Street and Optiver.
Since its launch in June 2024, the Theo platform has attracted $50 million in deposits, with an average user yield of 7%-8% in the last three months and an annual yield of 18%-20%. The platform's name is derived 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 lifted at the end of April, and traditional financial markets will be connected in the future. Both rounds of financing were in the form of token warrants, and the company's valuation was not disclosed.
