LeapRate Exclusive… LeapRate has learned that Copenhagen-based algo trading tools developer Tradeworks has raised a total of more than $500,000 from two strategic investors based in Singapore, as well as from the Danish Innovation Fund, Innovationsfonden.
Participating in a DKK 3 million (USD $450,000) fundraising by Tradeworks, and joining the company’s Board as non-executive directors, are Singapore based Joo Seng Wong and Henrik Nielsen.
Henrik Nielsen comes from a role as COO/CFO at game software developer Unity Technologies, where he had a key role in the company’s growth from a small Danish IT start-up to a global phenomenon with more than 800 employees today. Most recently, Henrik built up Unity’s Asian division.
Joo Seng Wong, currently a venture partner at VC firm Vicker Venture Partners, was a founder and CEO of GK Goh Financial Services, the FX trading and equity/derivative brokerage arm of one of Singapore’s largest equity brokerages. Joo Seng grew GK Goh into one of Asia’s largest FX trading houses from incorporation in 1998 until his departure in 2014. Most recently, Joo Seng was the co-founder and founding Chairman of Singapore-based fintech start-up M-DAQ Private Ltd from Jan 2010 to November 2015.
Commenting on his investment in Tradeworks, Joo Seng Wong said:
Tradeworks designs, builds and operates intuitive and simple-to-use trading technology. The company fills a vital need and gives investors and traders an important tool with which to study, understand and trade the financial markets more efficiently. This leads to better investing and I am proud and privileged to be a part of this effort.
Tradeworks CEO Mikael Breinholst added:
The Tradeworks management team is excited to have such respected persons like Joo Seng Wong and Henrik Nielsen join us and we look forward to working with them to build and develop the business and help Tradeworks reach its full potential.
Coinciding with the investment round, Tradeworks has received a grant from the Danish Innovation Fund, Innovationsfonden, of DKK 490,000 (about USD $75,000) to support development efforts to increase widespread adoption of Tradeworks.
Established in 2013 by Saxo Bank veteran Mikael Breinholst, Tradeworks is an entrepreneurial privately held company driven by an ambition of reshaping the world of online financial trading through innovative financial trading technology. Tradework’s mission is to design, build and operate intuitive and simple-to-use trading technology that empowers individual financial traders to optimize their trading results. Driven by its core values of honesty, reliability, integrity and innovation, Tradeworks aims to level the technological playing field between individual traders and global financial institutions.
More about Tradeworks’ algo trading solutions can be viewed in the following video: