Published: March 6, 2026 at 3:28 pm
A global trading exchange startup founded by two Cambridge mathematicians has raised £7m ($9.5m) in seed funding.
Y Combinator are among the investors in QFEX, which was founded by Annanay Kapila and Joshua Wharton.
The duo met as freshers at Cambridge, bonding over a shared interest in maths and finance.
After studying maths and conducted quantum computing research, Kapila went to work as a quantitative trader at Flow Traders and Tower Research Capital in London,
He is now building QFEX as the exchange he always wished he had to trade on and hopes it will eventually replace the entire $100bn exchange and clearing industry.
Most recently Wharton worked at Citidel.