Meet Annanay Kapila, Founder & CEO of QFEX — the Cambridge math grad who managed $10B/day in quant strategies before walking away to build something real.
Kapila spent years as a quant trader at Flow Traders and Tower Research Capital, running strategies that moved more money in a day than most countries see in a year. The pay was exceptional. But watching firms exploit structural flaws in legacy markets left him convinced the system needed to be rebuilt, not gamed.
In 2025, he co-founded QFEX in San Francisco with former Citadel engineer Joshua Wharton — a 24/7 perpetual futures exchange offering up to 50x leverage on US stocks, forex, and commodities, with no brokers in the middle. In March 2026, General Catalyst led a $9.5M seed round valuing the company at $95M, with Y Combinator, Paul Graham, and others backing the vision.
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