TabTrader Raises $ 5.8 Million For Mobile App That Aggregates Cryptocurrency Exchange Data – TechCrunch

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As many of the major cryptocurrencies appear to temporarily stabilize near all-time highs, users looking to speculate on slightly more volatile tokens look for exchanges to find deals.

Amsterdam-based startup TabTrader capitalized on this research with a platform that aggregates the prices and availability of tokens across dozens of exchanges. While other platforms allow users to view token prices on all exchanges, most are optimized for desktops while TabTrader has developed a substantial presence for its mobile app on iOS and Android.

As different exchanges take different approaches to integrating new tokens, crypto traders are increasingly signing up for accounts on multiple exchanges and tracking prices on multiple apps with multiple notification types defined for each. Many users rely on TabTrader for its cross-exchange price alert feature, notifying users when a particular token has gone above or below a certain value. While many exchanges offer this functionality in their native apps, the reliability and personalization of these push notifications has often been inconsistent.

CEO Kirill Suslov told TechCrunch that the TabTrader app has more than 400,000 active users, with a particularly strong presence in Europe and Asia.

The startup adopted a Kayak-like model, aggregating token prices and recouping redemption fees from exchanges when users make a purchase through the app. As users connect their wallet information to the app to easily make purchases through connected exchanges, Suslov says TabTrader never has access to user funds.

Along with these discounts, TabTrader also earns money through a monthly subscription of $ 12 for a paid version, as well as advertising. Suslov says his team of 20 has grown to reach their current audience without any paid marketing.

While tens of millions of users have created accounts on centralized exchanges like Coinbase and Binance, Suslov says TabTrader’s biggest opportunity might be to embrace so-called decentralized exchanges like Uniswap, which allow users to trade. quickly tokens with other users.

Suslov says that while the exchanges have developed great technology in the back-end, the front-end interfaces aren’t as easy for users to navigate, leaving room for an aggregator like TabTrader to streamline the user experience while allowing users to explore decentralized exchanges for the first time. The startup says it’s starting with a number of Solana-based exchanges, including Serum, Raydium, and Orca.

“[Decentralized exchanges] are the hottest topic of 2021, ”says Suslov. “We got up to get on this rocket.”

Suslov told TechCrunch that TabTrader collected $ 5.8 million in Series A funding from 100X Ventures, Hashkey Capital, Spartan Capital, SGH Capital, SOSV and Artesian Venture Partners.

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