BridgePort has secured $3.2 million in seed funding to scale its off-exchange crypto settlement infrastructure, tackling long-standing capital inefficiencies in the digital asset space.
The round was led by Further Ventures, with backing from major industry players including Virtu, XBTO, Blockchain Founders Fund, FunFair Ventures, and Humla Ventures.
The new capital will accelerate product development and support team expansion as demand grows among institutions for seamless, capital-efficient trading solutions. Founded by former CME Group executives, BridgePort offers middleware that securely connects trading firms, exchanges, and custodians, removing the need for prefunding while reducing credit fragmentation and post-trade settlement risks.
According to CEO Nirup Ramalingam, the company’s mission is to create the “institutional coordination layer” for crypto, bringing efficiency to market infrastructure and unlocking interoperability across the ecosystem.
“This funding milestone validates our approach to solving one of crypto’s most pressing structural issues,”
he said.
BridgePort’s system is already live in production on AWS, supporting integrations via REST APIs, FIX protocol, and bespoke connectivity. The company is actively onboarding exchanges and regulated custodians, with upcoming features focused on enhancing collateral management and pre-trade credit functionality.
Commenting on the investment, Mohamed Hamdy, Managing Partner at Further Ventures, highlighted BridgePort’s potential to solve credit and prefunding fragmentation—two of the digital asset market’s most critical bottlenecks. He noted that the team’s background in traditional finance positions them well to engineer scalable settlement infrastructure.
Meanwhile, in a separate development underscoring rising venture interest in niche crypto segments, Memes Lab announced it has raised $2.3 million in a seed round led by Lemniscap. The platform aims to fuse SocialFi mechanics with memecoin culture, offering a new take on community-driven crypto engagement. The funding round attracted support from prominent names, including TVM Ventures, Animoca Brands, OKX Ventures, Mirana Ventures, Gate Ventures, MEXC Ventures, KuCoin Ventures, Oak Grove Ventures, NewTribe Capital, and GSR.
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