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QFEX

YC X25

London, GB · Founded 2025 · 14 employees · Hiring · 14 known investors

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QFEX operates a 24/7 exchange where traders can access US equities, commodities, and foreign exchange pairs with leverage options up to 100x, as well as perpetual futures contracts. The platform targets retail and institutional traders seeking direct market access without traditional broker intermediation.

Also known as PFEx Holdings, Inc. · Entimox · PFEx · PSEx · PSEx, PFEx, Entimox, QFEX, QFEx

FintechMarketplacesMarketplaceTradingUnited KingdomEurope

Founders & leadership· Y Combinator alumni (X25)

QFEX was founded in 2025 by Annanay Kapila and Joshua Wharton.

AKAnnanay Kapila
Annanay KapilaFounder & CEOAnnanay Kapila studied mathematics at Cambridge where he conducted quantum computing research, then worked as a quantitative trader at Flow Traders and Tower Research Capital in London before founding QFEX.
JWJoshua Wharton
Joshua WhartonFounderJoshua Wharton serves as founder and CTO of QFEX.
AO
Adrian O'NeillCOOformer
RB
Robert BlythCOOformer

Investors · 14

General Catalystlisted by General CatalystSan Francisco · $30M

How we know: funding news · phemex.com · open dataset · 5k.vc investor directory · Y Combinator's founder network · Not right? Tell us

Moonfire Ventureslisted by Moonfire VenturesLondon

How we know: Moonfire Ventures's portfolio page · Y Combinator's founder network · Not right? Tell us

Transpose Platform Managementlisted by Transpose Platform ManagementSan Francisco

How we know: Transpose Platform Management's portfolio page · Y Combinator's founder network · Not right? Tell us

Y Combinatorlisted by Y CombinatorSan Francisco · $500K

How we know: the Y Combinator directory · funding news · open dataset · 5k.vc investor directory · Not right? Tell us

468 CapitalreportedBerlin

How we know: the VCSheet dataset · Y Combinator's founder network · Not right? Tell us

Goodwater CapitalreportedBurlingame · $5M – $50M

How we know: funding news · Y Combinator's founder network · Not right? Tell us

Liquid VenturesreportedSan Francisco · $250K – $5M

How we know: Y Combinator's founder network · Not right? Tell us

Metsu Capitalreported

How we know: Y Combinator's founder network · Not right? Tell us

Nexus Venture PartnersreportedMenlo Park · $500K – $10M

How we know: a partner's Signal profile · funding news · open dataset · 5k.vc investor directory · Y Combinator's founder network · Not right? Tell us

Rice CapitalreportedCovina

How we know: Y Combinator's founder network · Not right? Tell us

Ritual CapitalreportedMenlo Park · $100K – $500K

How we know: Y Combinator's founder network · Not right? Tell us

Tekedia CapitalreportedLagos · $1K

How we know: Y Combinator's founder network · Not right? Tell us

Unpopular VenturesreportedMiami · $100K – $500K

How we know: Y Combinator's founder network · Not right? Tell us

Funding

SEC filings, press & company announcements

$9.5M disclosed across 1 round · 2026

Source: company announcements and press reports — follow each round's link for the claim.

Key figures

latest reported
HeadcountAug 202612

Company-reported or press-reported figures, each dated to when it was claimed — not independently audited.

Images

QFEX photoQFEX photo

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Companies working in the same space as QFEX.

Legal entities · 1

corporate structure
PFEx Holdings, Inc.

In the news

QFEX launches with $9.5m seed round to disrupt global tradingfintech.global · Mar 2026QFEX - The Global 24/7 Stock Exchangeycombinator.com · May 2025

Frequently asked questions

What does QFEX do?
QFEX operates a 24/7 exchange where traders can access US equities, commodities, and foreign exchange pairs with leverage options up to 100x, as well as perpetual futures contracts. The platform targets retail and institutional traders seeking direct market access without traditional broker intermediation.
Who founded QFEX?
QFEX was founded by Annanay Kapila, Joshua Wharton in 2025.
Who are QFEX's investors?
QFEX's investors include Blast.Club, General Catalyst, Moonfire Ventures, Transpose Platform Management, Y Combinator, 468 Capital, Goodwater Capital, Liquid Ventures and 6 more.
How much funding has QFEX raised?
QFEX has disclosed $9.5M raised across 1 round.
Where is QFEX headquartered?
QFEX is headquartered in London, GB.