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Crypto investment platform Stacked has closed a $35 million Series A funding round co-led by Alameda Research and Mirana Ventures, TechCrunch reported on 6 December.

According to the publication, participating in the funding round were venture capital firms such as Fidelity International Strategic Ventures, DRW Venture Capital, Alumni Ventures, and Jump Capital. Stacked plans to use its newly acquired funds to more than double its 40-person team in 2022, as well as to continue scaling its crypto portfolios and automated lending products. The CEO and co-founder of Stacked, Joel Birch, said in a statement:

“In the very near future, we’re going to continue to evolve our platform away from automating strategies and giving people this easy investment platform into actually offering structured products like risk-adjusted portfolios and giving curated investment advice to individuals based on their risk tolerance.”

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Founded in 2020, the Chicago-based company provides users with a web-based application that enables them to automate their crypto investing experience through pre-built trading strategies and investment portfolios. The platform — which has been registered with the SEC as an investment advisor since June 2020 — also its users to connect to multiple crypto exchange accounts from one place, simplifying their portfolio management.

Stacked claims to have automated more than $10 billion worth of transactions in 2021, and to have over $100 million in user funds connected to its portfolio management system. In order to grow its assets under management to over $1 billion in 2022, the platform plans to go fully mobile within the next six months.

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