# FWX (Forward)

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/fwx-forward

- Industry: Financial Services
- Headquarters: Bangkok, Thailand
- Website: https://fwx.finance
- Total disclosed funding: $5M
- Latest round: Seed (May 17, 2022)
- Investors on record: 8

## About

Founded in 2021 and based in Bangkok, Thailand, Forward Enterprise Co., Ltd a.k.a FWX (Forward) operates as a fintech company for Decentralized derivative exchange (DDEX), and loan & borrowing pools. In November 2021, Forward Enterprise Co., Ltd raised THB 160 million in pre-series A funding from new investors GBV Capital and Varys Capital, Primestreet Capital, Ratanakorn Asset. The pre-series A valued Forward Enterprise at THB 1.6 billion post-money. Additionally, in May 2022, Forward Enterprise raised USD 5 million in Seed funding led by a returning investor Primestreet Capital, with participation from new investors Beacon Venture Capital, Kasikorn X and Krungsri Finnovate. Returning investors GBV Capital, Ratanakorn Asset, Zipmex Pte. Ltd. and Varys Capital also participated in the round. The company is led by co-founder and CEO, Chanon Jaratsuttikul.

Forward main services include the decentralized derivative exchange (DDEX) and lending & borrowing pools (LBPs). Forward offers a protocol for decentralized Derivative trading (DDEX) that provides perpetual futures trading written on major crypto tokens, including BTC, ETH, BNB, and USDT, and where short and long positions are matched against each other using an advanced protocol named Automated Position Hedger (APH). Also, it offers services that allow users to lend or borrow major crypto tokens. Moreover, Forward's focus is on developing a decentralized derivative platform, which is non-custodial with a system that prohibits transactions from sanctioned countries and addresses.

The company plans to use the 2022 funding to develop a decentralized derivative platform, which is non-custodial with a system that prohibits transactions from sanctioned countries and addresses.

## Funding rounds

- Seed, May 17, 2022, $5M — Beacon Venture Capital, Krungsri Finnovate, Zipmex Pte. Ltd., GBV Capital, Varys Capital, Ratanakorn Asset, PrimeStreet Capital, Kasikorn X

## Investors

- Beacon Venture Capital (https://capitalatlas.ai/funds/beacon-venture-capital) — Seed
- Krungsri Finnovate (https://capitalatlas.ai/funds/krungsri-finnovate) — Seed
- Zipmex Pte. Ltd. — Seed
- GBV Capital (https://capitalatlas.ai/funds/gbv-capital) — Seed
- Varys Capital (https://capitalatlas.ai/funds/varys-capital) — Seed
- Ratanakorn Asset — Seed
- PrimeStreet Capital (https://capitalatlas.ai/funds/primestreet-capital) — Seed
- Kasikorn X — Seed