Allasso Raises £1.5M to Build Options Analytics for Commodity Desks

Allasso has closed a £1.5M seed round led by Fuel Ventures, the London-based VC that focuses on UK tech companies with early commercial traction. The capital goes toward expanding the platform's coverage to over 60 commodity markets, hiring two quantitative developers, and integrating direct data feeds from CME Group and ICE Futures Europe.

The funding comes three months after we launched our private beta with a small group of commodity trading firms and energy companies based in Switzerland and the Netherlands. The feedback from those early users shaped every priority in this round.

What We Built and Why

I started Allasso after spending six years on a commodity derivatives desk at a mid-sized energy trading house. Every day, our team priced options using spreadsheets glued together with VBA macros and a third-party pricing library that hadn't been meaningfully updated since 2011. When natural gas prices went into contango due to the European storage overhang in late 2022, our vol surface model produced pricing that was simply wrong — it couldn't account for the term structure dynamics that make gas options behave nothing like equity options.

The problem wasn't that good tools didn't exist. Bloomberg OVML covers the basics. Reuters Eikon has its own flavour of options analytics. But neither was built specifically for the structural quirks of physical and financial commodity markets: seasonal storage cycles, delivery windows, correlation between front and back months, and the fact that many commodity options markets trade with thin quotes at far-from-the-money strikes. We built Allasso to solve those specific problems.

What This Funding Enables

Practically speaking, the £1.5M round means three things. First, we're expanding from the twelve commodity markets in our beta to over sixty, covering the full CME energy complex, LME base metals, CBOT agricultural products, and European energy forwards. Second, we're building native FIX protocol connectivity so trading desks can pipe live market data directly into Allasso without a manual export step. Third, we're adding a scenario analysis module that lets traders stress-test portfolio Greeks against historical price shocks — the 2021 Texas freeze, the 2022 European gas spike, the 2020 crude oil negative pricing event.

We're also hiring. We have two open roles for quantitative developers with experience in derivatives pricing, and one for a client success lead who ideally comes from a commodity trading background. If that's you, reach out to felix@aIIasso.com directly.

Why Fuel Ventures

Fuel Ventures backs UK tech companies with early commercial traction, typically writing cheques between £150K and £3M at seed stage. What made them the right partner wasn't just the cheque size — it was their willingness to engage seriously with the technical side of what we're building. Mark Pearson and the team at Fuel spent time with our actual product, not just the deck. They asked about vol surface construction methodology, not just TAM.

The UK angle matters too. Several of the major commodity trading houses run their derivatives operations out of London — Glencore, Trafigura, Vitol, and a dozen mid-market firms that handle significant physical volumes. Being backed by a London VC opens doors to the Canary Wharf and City trading community in a way that a purely Swiss investor might not.

The Commodity Derivatives Market Is Underserved

The institutional options analytics market has been dominated by a handful of legacy vendors for two decades. Symphony Financial Technologies, Openlink (now ION), and Bloomberg serve the largest firms well enough — if you have a seven-figure software budget and a dedicated IT team to configure and maintain the installation. For the hundreds of mid-size commodity trading houses, energy producers with derivatives hedging programs, and agricultural trading firms operating between $500M and $5B in annual volume, those solutions are overpriced and over-engineered for the actual workflow.

Allasso targets that middle segment: sophisticated enough to need real options analytics but too small to justify the enterprise vendor complexity. Our pricing is transparent — a flat monthly subscription that scales by number of markets accessed and user seats, not by trading volume or notional. We published our full pricing on the website because we believe the market should know what tools cost before starting a procurement conversation.

What Comes Next

The next six months are focused on two deliverables: the CME and ICE data feed integrations, and the scenario stress-testing module. We're targeting general availability for both by Q3 2025. After that, the roadmap points toward portfolio-level risk attribution — breaking down where a book's net delta and vega exposure actually comes from across multiple commodity underlyings — and eventually, integration with order management systems so traders can act on analytics without switching windows.

We're also considering an API offering. Several firms in our beta cohort have internal risk systems that they built in-house and would prefer to call Allasso's pricing engine via API rather than use the dashboard directly. That's a use case we want to support.

Thank You to Our Beta Users

None of this happens without the trading firms and energy companies who trusted us with real problems during the beta phase. They pointed out edge cases in our vol surface builder that we wouldn't have found in testing, pushed back on the dashboard UX when it got in the way of real workflows, and gave us the commercial signal we needed to raise this round. We don't name them here because they haven't asked to be named, but they know who they are.

If you're a commodity derivatives trader, risk manager, or quant who wants to see what we've built, the best way is a live demo. Book a 30-minute session at the link below — we'll use your actual markets and a sanitized version of your portfolio structure if you want to see something real rather than a canned demo.