# A5X

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/a5x-s-a

- Industry: Financial Services
- Headquarters: Brazil
- Website: www.a5x.com.br/
- Total disclosed funding: $70M
- Latest round: Series D (Sep 14, 2026)
- Investors on record: 8

## About

A5X S.A. is a Brazilian company that operates a sophisticated trading platform for listed and financially settled derivatives, enhancing liquidity and providing solutions for institutional investors and trading firms.Founded in 2023 and headquartered in Brazil, A5X S.A. specializes in trading derivatives. In September 2026, A5X S.A. raised USD 70 million in series D funding co-led by Morgan Stanley Investment Management, Goldman Sachs Asset Management, and Kaszek Ventures, with participation from IMC Strategic Investments, Jump Trading International Limited, Optiver, XTX Ventures, ABN AMRO Clearing Bank, and XP Inc. A5X operates a sophisticated trading platform specializing in listed and financially settled derivatives, adhering to international best practices. Its core offerings include European-style options with automatic exercise upon expiration, alongside a diverse range of futures and options covering various asset classes such as equities, currencies, interest rates, and cryptocurrencies. The platform primarily serves institutional investors, hedge funds, and trading firms, focusing on enhancing liquidity and providing innovative trading solutions within the financial market, particularly for the Brazilian and offshore clients.A5X's revenue model is based on transaction fees from trading activities on its platform. Clients engage in various transactions involving derivatives, incurring fees dependent on trade volume and value. Revenue is generated from both B2B and direct-to-consumer interactions, allowing participation from institutional clients and individual investors alike, with pricing structures correlated to transaction complexity and volume. Future product launches are planned, though specific details have not been disclosed. The company will use the September 2026 funding to meet regulatory requirements and scale operations.

## Funding rounds

- Series D, Sep 14, 2026, $70M — Goldman Sachs Asset Management, Morgan Stanley Investment Management, XP Inc., ABN AMRO Clearing Bank, Kaszek Ventures, XTX Ventures, Optiver, IMC Strategic Investments

## Investors

- Goldman Sachs Asset Management (https://capitalatlas.ai/funds/goldman-sachs-asset-management) — Series D
- Morgan Stanley Investment Management — Series D
- XP Inc. — Series D
- ABN AMRO Clearing Bank — Series D
- Kaszek Ventures (https://capitalatlas.ai/funds/kaszek-ventures) — Series D
- XTX Ventures (https://capitalatlas.ai/funds/xtx-ventures) — Series D
- Optiver — Series D
- IMC Strategic Investments (https://capitalatlas.ai/funds/imc-strategic-investments) — Series D