Overview
- Pascal announced a $9 million Series A led by Union Square Ventures on Thursday, July 16, 2026, building on prior seed funding that financed research and product work.
- The company launched a private beta in June 2026 and has not disclosed current trading volumes while it tests its matching engine with early users.
- Pascal’s product uses perpetual‑futures style mechanics so traders can hold positions without expiration and it offers advanced order types, lower fees, and liquidity incentives.
- Founders Ivo Crnkovic‑Rubsamen and Matthew Downey bring institutional trading and crypto derivatives experience, and they say the platform is designed to fix execution problems such as “phantom fills.”
- The startup positions itself between Kalshi’s CFTC‑regulated, USD markets and Polymarket’s crypto approach, and its next milestones to watch are regulatory clarity, market‑maker adoption, and measurable trading volume that would attract institutions.