TurboFlow, aiming to be the 'Kalshi of APAC,' raises $6 million seed led by Pantera Capital

TurboFlow, an onchain trading platform offering prediction markets and perpetual futures, has raised $6 million in a seed funding round.

Pantera Capital led the round, with Susquehanna Crypto and Digital Currency Group participating, TurboFlow said Monday. Those are the only three investors in the round, which closed in March after fundraising began earlier this year, founder Tony He, former co-founder and partner at Amber Group, told The Block. The round was structured as a simple agreement for future equity (SAFE) with token warrants, He said, declining to disclose valuation.

TurboFlow's fundraise comes as both prediction markets and perpetual futures continue to grow and attract investor interest. Based in Hong Kong, the platform aims to become the "Kalshi of APAC [Asia-Pacific]." He said prediction markets have gained significant traction through platforms such as Kalshi and Polymarket in Western markets, but remain largely underdeveloped across Asia. TurboFlow aims to fill that gap through localization and a stronger regional presence.

"We see a large unfilled gap between Asian users and proper institutional-grade liquidity, and we’re striving to become that bridge," He said. "People here are interested in different topics and assets to trade. It’s about staying close to users and being able to deliver the products they want, fast."

When asked what licenses TurboFlow holds or is pursuing, He said regulatory frameworks for prediction markets "vary significantly across APAC and are still evolving," but TurboFlow is "proactively building toward a compliant, legitimate setup" and working with advisors to evaluate compliant paths with a market-by-market approach.

As for how TurboFlow plans to build liquidity, He pointed to relationships with firms including Susquehanna Crypto and his own background in market making. He also said the team has deep experience in user acquisition across Asia and plans to compete through liquidity, pricing, service quality, and trusted infrastructure.

TurboFlow said it has been running its beta for more than six months and has attracted over 15,000 registered beta users. The platform said it has processed more than $19 billion in trading volume to date.

"Perps have traditionally been the most popular product among crypto users, but our fastest-growing segment is coming entirely from prediction markets — which proves to us that offering a genuinely new trading experience is what matters most," He said.

TurboFlow describes its approach as "high-velocity event trading," allowing users to participate in markets with entry sizes as small as $2. Other claimed features include fast settlement infrastructure for short-duration contracts and a consumer-focused interface.

TurboFlow currently has more than 30 employees, with most of the core team based in Hong Kong. He said the firm plans to remain "relatively lean" as it looks to grow.

The Funding newsletter:  Stay on top of the latest crypto VC funding and M&A deals, news, and trends with my free bi-monthly newsletter, The Funding. Sign up here!