-66%

est. 2Y upside i

FinTechSeries A

Hummingbot is an open source toolbox for professional liquidity providers.

Rank

#1008

Sector

Fintech

Est. Liquidity

~3Y

Data Quality

Data: Medium

Hummingbot operates in a high-growth fintech niche ($5M revenue, ~50% YoY growth) with a strong open-source community and recent positive profitability projections.

Last updated: March 10, 2026

Bull (25%)+400%

Hummingbot leverages its open-source community and recent AI enhancements to significantly expand its user base, particularly in the growing DEX and DeFi sectors, driving revenue to $50M+ by 2028 and justifying a $375M valuation.

Base (30%)+75%

Hummingbot maintains its niche among advanced algorithmic traders, growing revenue to $15M by 2028, but faces ongoing competition from commercial platforms and integrated exchange tools, leading to a $131M valuation.

Bear (45%)-80%

Increased regulatory scrutiny and aggressive moves by centralized exchanges offering integrated tools severely curtail Hummingbot's growth, leading to a down round or acquisition at a distressed valuation of $15M, wiping out most common stock value due to liquidation preferences.

Est. time to liquidity~3.0 years

Preference Stack Risk

high

Investors hold $15M in liquidation preferences. In an estimated $75M exit, common stock would participate in the remaining $60M after preferences are paid.

Dilution Risk

moderate

As a Series A2 company, Hummingbot will likely require additional funding rounds (Series B, C) leading to further dilution for existing equity holders.

Secondary Liquidity

none

No active secondary market or tender offers are publicly known for a company at this stage.

Questions to Ask at the Interview

Strategic questions based on Hummingbot's data — designed to show you've done your homework.

  • 1

    “Given the 'medium' incumbent threat from centralized exchanges offering integrated tools, how does Hummingbot plan to differentiate and retain its advanced user base, especially as these incumbents improve their offerings?”

  • 2

    “With a current revenue of ~$5M and ambitious growth targets in a $197B SAM, what are the key strategic initiatives to scale revenue significantly over the next 2-3 years, particularly beyond the existing liquidity mining campaigns and custom connector development?”

  • 3

    “Hummingbot is a Series A2 company with $15M in total funding. What is the anticipated timeline for the next funding round (Series B), and how does the company envision the path to a liquidity event (IPO or acquisition) for employees holding common stock?”

Community

Valuation Sentiment

Our model estimates -66% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.