# Burnt Finance

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/burnt-finance

- Industry: Financial Services
- Headquarters: New York, US
- Website: www.burnt.com
- Total disclosed funding: $36M
- Latest round: Series A (Apr 1, 2024)
- Investors on record: 31

## About

Based in New York, US, and founded in 2021, Burnt Finance, Inc. operates as a fully- decentralized NFT auction protocol built on Solana. Burnt Banksy is the founder of the company and serves as its CEO as of 2021. In January 2022, Burnt Finance raised USD 8 million in series A funding led by new investor Animoca Brands, with participation from other new investors.

The company offers a Solana-based, fully decentralized NFT auction system. It allows users to take control of auctions, allowing them to mint and trade any NFT in a permissionless environment. NFTs, digital assets, and more can all be supported by the platform. Burnt Finance can achieve quick transaction speeds with low fees using its Solana-based design.

The company intends to use the series A funding to hire more people and explore collaborations with artists and other Solana-based projects. It also plans to expand to additional blockchains, including Terra and other EVM-compatible layers one protocol.

## Funding rounds

- Series A, Apr 1, 2024, $25M — GoldenTree Asset Management, Animoca Brands Corporation Limited, Multicoin Capital, Arrington Capital, Innovating Capital, Sfermion, Hex Trust Limited, Mechanism Capital, Morningstar Ventures, Stateless Ventures, MH Ventures, Figment Capital, KuCoin Ventures, Spartan Group, Selini Capital, Vessel Capital, Laser Digital Asset Management, Draper Dragon, Anti Capital
- Series A, Jan 17, 2022, $8M — Animoca Brands Corporation Limited, Valor Capital Group, Multicoin Capital, Fantom Foundation, Tribe Capital, Play Ventures, HashKey Capital, Terra VC, Alameda Research, DeFiance Capital, Alliance, Mechanism Capital, Figment Capital, Spartan Group
- Seed, May 6, 2021, $3M — Multicoin Capital, HashKey Capital, Injective Labs Inc., Alameda Research Ventures, DeFiance Capital, Mechanism Capital, Vessel Capital, Spartan

## Investors

- Multicoin Capital (https://capitalatlas.ai/funds/multicoin-capital) — Seed, Series A
- HashKey Capital (https://capitalatlas.ai/funds/hashkey-capital) — Seed, Series A
- Injective Labs Inc. — Seed
- Alameda Research Ventures (https://capitalatlas.ai/funds/alameda-research-ventures) — Seed
- DeFiance Capital — Seed, Series A
- Mechanism Capital (https://capitalatlas.ai/funds/mechanism-capital) — Seed, Series A
- Vessel Capital (https://capitalatlas.ai/funds/vessel-capital) — Seed, Series A
- Spartan — Seed
- Animoca Brands Corporation Limited — Series A
- Valor Capital Group (https://capitalatlas.ai/funds/valor-capital-group) — Series A
- Fantom Foundation — Series A
- Tribe Capital (https://capitalatlas.ai/funds/tribe-capital) — Series A
- Play Ventures (https://capitalatlas.ai/funds/play-ventures) — Series A
- Terra VC — Series A
- Alameda Research — Series A
- Alliance (https://capitalatlas.ai/funds/alliance) — Series A
- Figment Capital (https://capitalatlas.ai/funds/figment-capital) — Series A
- Spartan Group (https://capitalatlas.ai/funds/spartan-group) — Series A
- GoldenTree Asset Management (https://capitalatlas.ai/funds/goldentree-asset-management) — Series A
- Arrington Capital — Series A
- Innovating Capital (https://capitalatlas.ai/funds/innovating-capital) — Series A
- Sfermion (https://capitalatlas.ai/funds/sfermion) — Series A
- Hex Trust Limited — Series A
- Morningstar Ventures (https://capitalatlas.ai/funds/morningstar-ventures) — Series A
- Stateless Ventures (https://capitalatlas.ai/funds/stateless-ventures) — Series A
- MH Ventures (https://capitalatlas.ai/funds/mh-ventures) — Series A
- KuCoin Ventures (https://capitalatlas.ai/funds/kucoin-ventures) — Series A
- Selini Capital (https://capitalatlas.ai/funds/selini-capital) — Series A
- Laser Digital Asset Management — Series A
- Draper Dragon (https://capitalatlas.ai/funds/draper-dragon) — Series A
- Anti Capital — Series A