Skilling raises €10m to expand brokerage further after triple-digit growth in 2021

Rick Steves

“This fundraising round represents the beginning of the next phase of Skilling’s growth as we further assert ourselves in the fintech industry”

Skilling has raised €10 million in its largest funding round to date as the online trading platform aims to use the funds to fuel the already astonishing growth it has experienced in 2021, a record year with triple-digit yearly increases in active users, trade volumes and revenues.

The latest financing increased the company’s valuation by nearly 50% in just the past year as the firm had previously raised another €5 million from seasoned Scandinavian investors.

Top talent and proprietary trading tech

Michael Kamerman, Chief Executive Officer of Skilling, said: “This fundraising round represents the beginning of the next phase of Skilling’s growth as we further assert ourselves in the fintech industry. We are pleased to have several forward-looking investors from various countries committed to contributing to Skilling’s long-term growth.

Skilling has plans to accelerate the recruiting of top talent and further advance its proprietary trading tech to offer simple but robust technology that allows customers to navigate their trading and investments throughout the customer’s financial life.

The ever-changing world of investing and online trading can now count with Skilling and its long-term vision with investments in a deep proprietary tech stack.

The firm has launched a number of products and services such as its introducing broker and affiliate program with a bespoke partnership portal adding functionality and transparency for partners.

The Skilling Copy platform was also introduced to allow customers to copy or follow thousands of trading strategies provided by other traders.

The “meme trading” culture, which captivated traders and the public throughout the year, was adopted by Skilling, one of the first brokers to offer such trending products. The trading platform intends to continue to stay up-to-date with current trends and to keep diversifying its business.

FX and CFD brokers must go multi asset: Join free webinar from TraderEvolution to learn how

Leadership from ex-FXCM Michael Kamerman and liquidity from Match-Prime

It was in late 2020 that Skilling announced the appointment of industry veteran Michael Kamerman as CEO. Bringing over 15 years’ experience at leading competitor, FXCM, he joined Skilling with the remit of securing the broker’s place as a leading provider of FX and CFD services to a global client base.

 

Prior to that appointment, Skilling launched the hugely popular Metatrader 4 platform, obtained a regulatory licence in Seychelles, received branch authorisation from the UK’s FCA, and secured partnerships with Premier League football club Aston Villa, and global chess superstar Magnus Carlsen.

In May 2021 and after onboarding and testing the liquidity solution for some time, Skilling has decided to sign a long-term agreement with Match-Prime which provides liquidity in over 1000 instruments on a Prime of Prime model.

Skilling is a Scandinavian growth-stage company offering online trading for over 800 instruments and it is their vision to make trading accessible for all transparently and securely.

Read this next

Retail FX

ThinkMarkets expands CFDs lineup to over 4000 ETFs and shares

ThinkMarkets has expanded its service offering by incorporating 2500 new CFDs on shares and ETFs on its ThinkTrader platform.

Retail FX

France regulator warns investors of Omega Pro, Businessempire.fr

France’s financial markets regulator alerted investors that scams related to Omega Pro Ltd are beginning to circulate, with the blacklisted firm capitalizing on the situation to run a range of “unrealistic” offers.

Digital Assets

Web3 platform Grand Time paid $2 million in token earnings to date

Community-driven Web3 platform Grand Time said its offering – which includes a multifaceted platforms and its native token – has been gaining significant traction highlighted by impressive operational metrics.

Institutional FX

FX volumes at MOEX halved in April as ruble gains gorund

Currency trading at Moscow Exchange (MOEX) halted its upward route in April as monthly volumes nearly halved from a month earlier.

Digital Assets

FTX US adds stock trading, fractional shares to crypto platform

FTX US, the American subsidiary of crypto exchange FTX has kicked off stock trading feature to its customers in an effort to compete with popular platforms such as Robinhood and eToro.

Industry News

UK FCA empowered to remove brokers’ permissions in 28 days

Businesses with permissions they don’t need or use, risk misleading consumers. These new powers will enable us to take quicker action to cancel permissions that are not used or needed.

Industry News

CFTC charges $44m Ponzi scheme but millions may have fled to foreign crypto exchange

The CFTC alleged that defendants transferred millions of dollars to an off-shore entity that, in turn, may have transferred funds to a foreign cryptocurrency exchange. None of these funds were returned to the pool.

Technology

Saxo Bank deploys Adenza to address Basel and EBA requirements

The integration of ControllerView will enhance Basel-driven capital calculations and reporting at Saxo Bank in support of the bank’s multijurisdictional capital and liquidity reporting requirements throughout Denmark, Switzerland and UK, with plans to expand into the Netherlands.

Executive Moves

ComplySci appoints CTO, CPO, and CLO to further regtech’s product expansion

ComplySci offers compliance software used by more than 1400 global institutions to identify risk and address regulatory compliance challenges.

<