Veranta Raises $8M Series A to Expand Onchain Global Markets

Veranta has raised $8 million in a Series A round co-led by Founders Fund and Pantera Capital, with participation from Symbolic Capital, SALT Fund and Flowdesk.

The round brings total funding to $12 million, following a $4 million seed round completed in 2023. The Series A itself closed in mid-2024, and we chose to announce it after the protocol had reached a stronger stage of product and market maturity.

At the time of the announcement, Veranta had processed more than $7.5 billion in cumulative trading volume and served over 60,000 users, becoming the largest derivatives protocol on Base.

Building beyond crypto-only markets

The original thesis behind Veranta was that onchain leverage should extend beyond crypto. Traders should be able to express views on currencies, commodities and other global markets through the same self-custodial infrastructure they use for digital assets.

That thesis has shaped the product from the beginning. Veranta supports leveraged markets across crypto and real-world assets, including forex and commodities, while a USDC-based liquidity layer provides the capital that powers those markets.

The Series A gives us more room to expand that model. The focus is not simply adding more tickers. It is improving the underlying infrastructure so a broader range of assets can be quoted efficiently, supported by deeper liquidity and traded through a faster, more flexible experience.

Where the capital goes

The funding supports the next phase of product and infrastructure development, including work on greater capital efficiency, more advanced trading functionality and a market architecture that can support a wider range of price feeds and asset types.

It also gives the team room to continue investing in the engineering required to make onchain execution feel competitive with the venues global traders already use, while keeping the transparency and self-custody benefits of DeFi.

A broader market opportunity

Crypto perpetuals proved that traders are willing to move leverage onchain. The next opportunity is much larger: bringing more of the global market universe into the same open infrastructure.

That means continuing to deepen crypto markets while expanding access to real-world assets and building a system capable of supporting the next generation of cross-asset trading products.

Founders Fund, Pantera Capital and the other investors in this round backed that direction early. Their support gives Veranta additional resources to keep building toward a simple long-term goal: make global markets more accessible onchain.

Read our exclusive with The Block here.