Quick take:
- Superscript led a $3.2 million seed round in October 2023 with participation from Portage, MS&AD Ventures and several angels.
- The company also raised $1.35 million in a pre-seed round in May 2022.
- Agio is building a crypto analytics solution that helps investors assess the risks of potential trading platforms collapsing.
Agio Ratings has emerged from stealth with $4.6 million raised across two rounds. The crypto analytics platform raised $3.2 million in a seed round led by Superscript in October 2022.
The fundraising also attracted participation from Portage, MS&AD Ventures and several angel investors. Agio previously raised $1.35 million in a pre-seed round in May 2022.
Agio is building a counterparty risk assessment platform that helps investors assess the potential of various trading platforms gound under.
Investors have been taking a more cautious approach to investing in cryptocurrencies since the collapse of FTX in 2022. More importantly, multiple trading platforms including Binance, Coinbase and Bitget have integrated non-custodial wallets to help investors take control of their assets.
Agio takes a different approach to protecting investor assets. According to a report on Axios, the platform “analyzes both on-chain and off-chain data sources to rate the possibility that various crypto trading platforms could default.”
It can be used by market makers, brokers and lenders in the crypto industry as an independent measure tool of counterparty risk in a Moody’s- like rating system, accessible with a subscription package.
According to Agio Ratings CEO Ana De Sousa, his company started building a data set of 25 default events in 2022, shortly after inception.
“We assembled over 1,000 variables, ran them through the model and found that nine are predictive of default,” Sousa said, adding that the team “feels very confident now in the outputs of that model.”
According to the announcement, Agio already has ratings for 32 crypto firms and is on course to expand to 70 firms by April.
“A lot of firms felt like they were good risks compared to their peers, but they had no reputable, independent way of showcasing that,” Sousa added.
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