FinTech news in investing category
Fintor, a fintech startup making it easier for non-accredited investors to invest in real estate properties, has just launched its mobile app for both iOS and Android. It also just raised a $6.2 million extension funding round from its existing investors, including Public.com, Hustle Fund, 500 Global, VU Ventures, Graphene Ventures and angel investors such \[…\]
With Stash’s new crypto offering, customers won’t be able to store their own crypto in a wallet but will be able to buy and sell the assets 24/7, much like on an app like Coinbase, though chief investment officer Doug Feldman told journalist that a crypto wallet launch is not necessarily out of the question in the future. The startup sees itself as different from competitors because of its focus on cultivating customers who are long-term investors rather than encouraging more frequent, riskier trading for short-term profits, Ed Robinson, Stash co-founder and president, told journalist in an exclusive interview. Having a small amount of crypto exposure, he added, will help Stash customers capture some of the asset class’s potential upside in the long term. Feldman said that even for the most risk-tolerant investor on Stash, the maximum exposure to crypto the platform recommends is 6% of an investor’s overall portfolio.
A number of high-profile angel investors also put money in the round including 12-time NBA All-Star Chris Paul, Super Bowl Champion Vernon Davis, early-stage investors Tim Fong, VSC’s Jay Kapoor and athletes Jimmer Fredette and Kyle Hines.
For this week City Spotlight: Minneapolis, I had the honor of interviewing Mary Grove, managing partner of Bread & Butter Ventures, and Justin Kaufenberg, managing director of Rally Ventures, about their investment strategies. We happen to be focused on the three sectors: food tech, digital health and enterprise SaaS, but if you look at the titans of industry, we have Ecolab, Cargill, General Mills, Mayo Clinic, United Healthcare, Target, Securian, US Bank … We’ve actually got a number of companies on both coasts who have effectively decided to build their entire go-to-market sales organization based in Minneapolis. Both are based in Minneapolis, and they are using the city as a lookout tower for what’s happening across the U.S.
Matthews, CEO, was an investment banker and management consultant before co-founding Essmart, a social enterprise company in India, and then moving over to a leadership position at fintech retirement advisory firm ForUsAll.
Of course, Robinhood also warned of risks in extended-hours trading, but noted the additional hours would give customers the ability to trade based on quarterly earnings announcements made after the market closes, as well as based on activity taking place in foreign markets.
Groundfloor users have a wide range of reasons for using the platform, from new investors who are looking for a safer alternative to public markets to experienced investors who prefer investing through an app instead of using the broker, Dally said.
Like other Southeast Asian investment apps that have attracted venture capital over the past year (a partial list includes Indonesia’s Pluang, which recently raised a $55 million follow-on to its Series B, Bibit, Ajaib, Pintu and Syfe), Infina is focused on first-time Gen Z and millennial investors.
His goal is to raise $10 million for the new fund (of which he has so far brought in $4 million), and already it has a diverse group of LPs.
It uses integrations to link to different investment platforms for stocks, crypto, and other illiquid assets, though Gonen declined to share how many platforms are partnered with Compound in this manner.
Founders Fund Partner Matias Van Thienen said his firm had been looking for an investing and savings platform in Latin America that could offer global equities with a high-quality product and a suitable regulatory approach.
Tribevest plans to use some of the proceeds from its seed round to launch formal partnerships with investment platforms similar to Roofstock, which will allow users on those platforms to make investments directly through their Tribevest account at checkout, Smith said, though he declined to name any specific platforms the company plans to partner with.