Variational
Peer-to-peer trading for perpetuals and generalized derivatives
George Town, United States · Founded 2021 · $70.6M raised
- Headquarters
- George Town
- Employees
- 11–50
- Founded
- 2021
- Business Model
- Marketplace
- Website
- variational.io
- Total Funding
- $70.6M
- Last Round
- $50.0M Venture RoundMay 2026
- Rounds
- 3
About
Variational is a peer-to-peer trading protocol for perpetuals and generalized derivatives across crypto, equities, commodities, and forex. The protocol uses a request-for-quote model enabling fully customizable on-chain derivatives with zero trading fees. Backed by Peak XV, Bain Capital Crypto, Dragonfly, and Coinbase Ventures.
Summary
Variational is a Crypto & Web3 company based in George Town, United States, founded in 2021. It has raised $70.6M in total across 3 rounds, most recently a $50.0M Venture Round round in May 2026. Investors include Dragonfly Capital, Bain Capital Crypto and Peak XV Partners.
Tech & App Stack
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Funding History
May 2026
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Seed through Venture Round — per-round amounts, valuations, and who invested in each round.
Investors
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