Trading company Raven has completed a round of strategic financing, with investors being Coinbase Ventures and CMCC Global. The pre-investment valuation for this round of financing is $90 million.
Co-founder Petar Kostov introduced that Raven was established in 2023, initially providing liquidity for cryptocurrency trading, and since the second quarter of 2025, it has expanded its business to include predictive markets.
In an interview, Kostov stated: "Trading platforms with low trading volumes often find it difficult to secure liquidity partners; whereas platforms with high trading volumes frequently struggle to obtain sufficient liquidity to meet market demand."
Coinbase Ventures and CMCC Global confirmed this financing to the media. Coinbase Ventures is the investment department of the cryptocurrency trading platform Coinbase; Coinbase launched a market forecasting feature within its trading platform in December last year. CMCC Global is an investment firm based in Hong Kong that focuses on the blockchain sector.
CMCC Co-founder Charlie Morris stated, "We are delighted to support Raven in its next phase of business expansion and to solidify its leading position in liquidity on the collaborative platform." Morris has joined the board of directors of Raven and will work alongside the management team to expand institutional customer business.
Raven is a market maker that predicts the market, continuously placing buy and sell orders for various contracts to provide traders with the liquidity needed to open and close positions. However, Costov mentioned that this company plays a diversified role.
He added, "In the early stages of the project, we will provide consultation on technical setup and market design, including the API interface specifications and which trading categories to launch first. When the platform goes live, we will provide initial liquidity; after that, we will continue to place orders to maintain market activity and assist in expanding new trading categories as the platform grows."
According to the official website information of Raven, this company provides liquidity for prediction market platforms such as Kalshi and Polymarket, and also participates in overseas compliant trading platforms as well as on-chain markets. Raven has provided quotes for over 3,000 contracts, covering topics such as sports, cryptocurrencies, macroeconomics, and entertainment.
Before entering the prediction market, Raven was already a mature high-frequency trading company, providing liquidity for both centralized and decentralized exchanges.
The Block Previous reports stated that the company completed a $2.7 million seed round of financing in 2024, with a valuation of $25 million. The round was led by Hack VC, with Wintermute Ventures and other angel investors also participating.
Raven refuses to disclose the respective investment amounts of Coinbase Ventures and CMCC Global in this round of financing.
Credit attribution:The content of this article is compiled based on interviews cited by Global Market Report and previous reports from The Block.
