iTech Capital, a Europe-based private equity (PE) fund with a focus on the global digital market, has invested US$3 million in TradingView, a growing social FinTech platform that unites traders and investors from around the world.
iTech Capital, who will take a minority stake in TradingView, led the Series A round, which amounted to US$3.6 million alongside other seed investors and angels.
TradingView provides a next-gen online platform where thousands of amateur and professional investors and traders share insights and ideas in real-time, free of charge. The site currently features over 500,000 monthly active users from 100 countries, and since launching in 2012, has experienced 10 percent month-on-month organic growth in unique users.
iTech Capital’s Managing Partner, Gleb Davidyuk and Portfolio Manager, Alex Telnov will both join the TradingView Board as executive directors. Along with the management team, their focus will be to identify and execute on future growth opportunities, enhance marketing efforts and build a corporate culture.
In addition to its burgeoning trading community, TradingView produces powerful financial charts with data that are used by over 4,000 financial portals and websites such as Investopedia, InstaForex, DailyFX and more. As a result, five and a half million monthly unique visitors are engaged with the TradingView brand through partner platforms.
This round of investment will allow TradingView to develop and launch new services, including localisation, as well as expanding their sales and marketing efforts to enhance customer acquisition activities and implement new data feeds.
Gleb Davidyuk, Managing Partner of iTech Capital, said: “TradingView is a unique player in the FinTech sector with a powerful mix of user generated charts and investment insights from its community, which helps its large user base to make informative investment decisions. Since its inception, the business model has successfully demonstrated continuous monthly growth in user acquisition and revenues. With the capital and experience provided by iTech Capital, we believe that TradingView can capitalise on the significant opportunity.”
Stan Bokov, co-founder and COO of TradingView, said: “TradingView is doing in the financial industry what the first iPhone did to old phones. If you are a trader or investor, you’ll just ‘get it’. It’s a completely new way to visualize financial data and analyse it. It doesn’t matter if you are on a phone, tablet, PC, Mac or any other device – it’ll just work.
The platform reinvents investors’ user experience and co-operation – you are never alone with the markets. The additional funding from iTech Capital and their expertise on our Board will help us with business development, marketing and further expansion into new markets.”
To view the official release, click here.