QFEX is developing the first financial exchange to list perpetual futures contracts natively tied to traditional assets, allowing participants to trade with no intermediaries. Founded by Cambridge mathematicians-turned-quantitative traders Annanay Kapila and Joshua Wharton, the platform is designed to deliver lower fees, fairer markets and greater leverage than legacy exchanges. QFEX operates on a commission-only model, meaning the company earns revenue only when its users are profitable. Kapila believes this approach can help the startup ultimately displace the $100 billion global exchange and clearing industry. The founders draw on prior experience at Flow Traders, Tower Research Capital and Citadel to build institutional-grade trading infrastructure. To finance product development and launch, QFEX has secured £7 million ($9.5 million) in seed funding.

Total raised

$9M

Funding rounds

1

Latest round

Seed

Latest activity

Mar 2026