dub raises $17 million for unique US copy trading platform
“A decade from now, instead of picking stocks, we’ll be picking people to invest in. It’s already how my generation is investing, with the rise of social media and commission-free investing.”
Dub, a groundbreaking copy-trading platform in the U.S., has successfully raised $17 million from a consortium of venture capital firms and notable individual investors, including Uber’s CEO and the Co-founder of Robinhood.
The firm introduces a novel approach to investing by enabling users to easily replicate the investment strategies of emerging managers, well-known hedge funds, and public figures.
dub is backed by co-founders of Robinhood and Uber
The seed round was spearheaded by Tusk Venture Partners, featuring contributions from influential figures such as Robinhood’s Nathan Rodland, Uber’s Dara Khosrowshahi, and others from the realms of finance, technology, and entertainment. The round also includes a $2 million venture debt from Silicon Valley Bank, a division of First Citizens Bank.
Dub’s platform is a bridge between the social-media-driven creator economy and investment, allowing users to access diverse investment minds and strategies through a user-friendly app. It allows investors to follow others’ portfolios and offers a platform for individuals to have their investment strategies replicated by others.
According to the announcement, tnitial offerings on dub include strategies from former hedge fund managers and financial influencers.
Dub’s platform is praised for opening new possibilities in retail investing by offering a unique product that capitalizes on the trend of copy-trading. Industry leaders recognize the potential for dub to democratize financial advice and offer retail investors greater control over their investment decisions. With a diverse group of seed investors and the backing of seasoned executives from various sectors, dub is positioned to redefine retail investing.
“Instead of picking stocks, we’ll be picking people to invest in”
Steven Wang, founder and CEO of dub, said: “A decade from now, instead of picking stocks, we’ll be picking people to invest in. It’s already how my generation is investing, with the rise of social media and commission-free investing. Humans are narrative- and fear-driven creatures. Digitally-native creators have mastered the art of storytelling and are building fervent communities that leverage social accreditation to guide their investment decisions. With dub, we’re building the creator economy for finance.”
Nathan Rodland, co-founder of Robinhood, said: “dub’s copy-trading platform opens a new frontier in retail investing. As the first broker dealer to offer copy-trading, they are in a position to offer a truly unique product to investors.”
Jordan Nof, co-founder and managing partner at Tusk Venture Partners, added: “Steven and the dub team have created a platform where financial creators can share their ideas, demonstrate their investment strategies, and provide retail investors with the information they need to take more agency over their investment decisions.”
