Fintech Innovator Streetbeat Raises $10M Round, Exceeds 35,000 Clients During One-Month Beta and 125,000 Trading Orders in First Week
Silicon Valley startup launches platform to empower individual investors to leverage the strategies, data, and technologies that professionals use
PALO ALTO, CALIF.--(Business Wire / Korea Newswire) February 08, 2022 -- Streetbeat, a free investing and trading app for stock and cryptocurrencies with a proprietary marketplace of professional investment strategies, today announced that it has closed $10M in seed funding led by TTV Capital with additional backing from investors including Seraph Group and AAF Management Ltd. Streetbeat, whose client base is expanding 18% every week, is creating a marketplace of trading strategies that gives each user a personalized list of recommendations based on their interests and risk profiles. More than 35,000 investors have signed up for the platform during its 30-day beta launch.
“We at TTV Capital are excited to partner with Streetbeat in their future growth,” says Gardiner Garrard, Co-Founder and a Managing Partner of TTV Capital. “The company’s next-gen, autonomous investment platform makes manual trading a thing of the past. For the longest time, retail investors have wanted access to the technology and data that enable professional investors - and Streetbeat now provides these resources in an easy-to-use mobile app. We’re excited to work with the company’s talented team to bring a much-needed solution to market at an ideal time.”
Damián Scavo, founder and CEO of Streetbeat, says, “Today’s brokers make money any time the user makes a trade, not when the user makes money. Manual trading is something that professionals stopped using in the ’90s, other than on rare occasions. Another issue that we see is copy trading of individuals without any type of due diligence on their strategies or access to exclusive data. These are problems that Streetbeat solves. Most of the investments in the professional trading world are automatic and data-driven, and that’s what everybody deserves to use today.”
Streetbeat captures a wider investing audience with its combination of online simple trading and robo-advisor, that execute advanced data driven trading strategies that will be provided by vetted professionals. The platform will launch with two strategies and will roll out additional strategies that include crypto, ETFs, and more. Streetbeat is democratizing data-driven strategies while reducing the technological and information gap that exists between the average investor and Wall Street.
Streetbeat is proud to be a graduate of the coveted StartX accelerator program - ranked #1 nationally, with a very selective process consisting of the top 8~10% of entrepreneurs from Stanford and around the world, through alumni invitation only. StartX has five times more unicorns than the graduates of any accelerator program of the same age and a 92% success rate of startups still growing and thriving, when backed by $3 million in funding.
“We are proud of Damián and his team, and thrilled to have them as part of our community. We support them in leading the next financial revolution,” says Joseph Huang, CEO of StartX.
Streetbeat is also backed by several angel investors of the Stanford Alumni community.
“We at AAF Management Ltd. are thrilled to back Streetbeat in their mission of building a cutting edge, investment platform catered to today’s savvy retail investors,” says Omar Darwazah, Managing Director and General Partner of AAF Management Ltd. “The company’s technology provides the tools retail investors need to professionally trade today’s ever complex financial markets. The Streetbeat team is world-class, and we’re excited to work closely with them to help them bring their innovative trading technologies to the market.”
Streetbeat is a fintech company focused on democratizing and demystifying investing and making it accessible to everyone. The patented Streetbeat technology was designed to allow people to benefit from algo-trading and valuable data that can be difficult to uncover and decipher, empowering them to take control of their financial futures with a zero-hassle onboarding process. The company is based in Palo Alto and is privately held. Streetbeat, LLC (“Streetbeat”) is an SEC-registered investment adviser. Other charges and fees may apply, details in their fee schedule.
Google store: https://play.google.com/store/apps/details?id=ai.streetbeat.app
Apple store: https://apps.apple.com/ua/app/streetbeat-stock-investing/id1578332443
View source version on businesswire.com: https://www.businesswire.com/news/home/20220207005331/en/
This is a news release distributed by Korea Newswire on behalf of this company.