Streetbeat raises $10m ahead of launch of stock and crypto app offering strategies
Streetbeat combines online simple trading and robo-advisory to execute advanced data driven trading strategies that will be provided by vetted professionals.
Streetbeat has raised $10 million in seed funding led by TTV Capital in order to help develop its free investing and trading app for stock and cryptocurrencies with a proprietary marketplace of professional investment strategies.
The startup was also backed by Seraph Group and AAF Management Ltd, among other investors as the trading platform experiences skyrocketing growth, with the client base expanding 18% every week. More than 35,000 investors have signed up for the platform during its 30-day beta launch.
Proprietary marketplace of professional investment strategies
Retail traders are flocking to Streetbeat for its growing marketplace of trading strategies that gives each user a personalized list of recommendations based on their interests and risk profiles.
Gardiner Garrard, Co-Founder and a Managing Partner of TTV Capital, said: “We at TTV Capital are excited to partner with Streetbeat in their future growth. 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, commented: “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 combines online simple trading and robo-advisory to execute advanced data driven trading strategies that will be provided by vetted professionals.
Launching with two strategies only, the trading app will roll out additional strategies that include crypto, ETFs, in the weeks ahead as it democratizes data-driven strategies.
Streetbeat is a graduate of the StartX accelerator program, which 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, according to the program’s stats.
“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.
Omar Darwazah, Managing Director and General Partner of AAF Management, said: “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. 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.”
