Fermat

San Francisco, CA · Founded 2021 · Privately Held (backing)

Developer of a commerce infrastructure platform designed for decentralized retail experiences. Fermat is based in San Francisco, CA and was founded in 2021. Its last reported valuation was $225 million in Jun 2025. It has raised $74 million.

Last reported valuation
$225.0M
Oct 2026
Priced at
—
Total raised
$74.0M
Last round
—

Who backs Fermat?

12 investors
InvestorType
Pareto Holdings—
Bain Capital VenturesVenture capital
QED InvestorsVenture capital
GreylockVenture capital
Courtside VenturesVenture capital
Olima VenturesVenture capital
VMG PartnersVenture capital
Greylock Capital ManagementHedge fund
Dynamism Capital—
Heracles Capital—
+ 2 more investors · a free account shows the complete list
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Fermat investors

12 investors are on record for Fermat, including Pareto Holdings, Bain Capital Ventures, QED Investors and Greylock. By type, the record holds 6 venture capital firms and 1 hedge fund.

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