Wednesday
April 6
2022

Gotrade Raises $15.5 Million to Make Investing Fun, Fair and Simple in Southeast Asia, Launches in Indonesia

Gotrade allows users to invest in stocks and ETFs without commissions or hidden fees. Gotrade – the investing app on a mission to make investing accessible to everyone, everywhere – has raised $15.5 million in a Series A round led by Velocity Capital Fintech Ventures. The round also saw participation from investors around the globe including Mitsubishi UFJ Financial Group (MUFG) [Japan], BeeNext [Singapore], Kibo Ventures [Spain], Picus Capital [Germany] as well as returning investors LocalGlobe [UK], Social Leverage [US] & Raptor [US].

  • Gotrade allows users to invest in stocks and ETFs without commissions or hidden fees.
  • It has racked up over 500,000 users from over 140 countries in its first year.
  • Gotrade Indonesia, launched in partnership with local broker Valbury, the Jakarta Futures Exchange and the state-backed Futures Clearing House of Indonesia, is the first platform in Indonesia to offer market access to the U.S. stock market through fully backed contracts.
  • Andrew Haryono, the owner of the Valbury group, a financial services conglomerate in Indonesia, joins Gotrade as co-founder.
  • The funding round was led by Velocity Capital Fintech Ventures with participation from MUFG, BeeNext, Kibo Ventures, as well as returning investors LocalGlobe, Social Leverage, Picus Capital and Raptor Group.

The funding was revealed one year after Gotrade launched, racking up over 500,000 users from over 140 countries with no marketing. The app’s viral growth has been fueled exclusively by word of mouth and customer referrals.

Source: GlobeNewswire (link opens in a new window)

Categories
Finance, Technology
Tags
financial access, financial inclusion, financial services, fintech, impact investing, technology