London-based financial education provider app, Invstr has announced the closing of its $20 million series A. This round has doubled the $20M previously raised across the 2 seed rounds.
This round was used in a form of a convertible offering that was placed with the existing investors which include Finberg, Ventura Capital, Jari Ovaskainen, and Rick Haythornthwaite( Mastercard’s former Global Chairman).
INVSTR is an 8 years old company, founded in 2013 by Kerim Derhalli headquartered in London, England.
It is a well-known organization, focusing only on financial education.
It is an educational platform that has the following key features-
- It is an investing academy
- Provides a fantasy finance game that enables the users to manage a virtual $1M portfolio, which helps them in gaining information regarding investing and marketing in a risk-free way.
- Financial education has been made enjoyable via social gamification. It makes people understand properly.
- Helps in building a community around users which helps them to learn through each other.
Till now over one million people have downloaded Invstr’s financial education app and It is on its way to be the competitor of Robinhood, which has a total of 13M downloads.
Almost every investing app’s major grumble is that they don’t act responsibly by not guiding the users appropriately and reportedly letting them stand on their own feet, which can result in a loss of money. The famous Robinhood, which is also an investing app, has a lot of lawsuits like this.
But Invstr has taken a stand by generating a number of new offerings and one of them is that it will now provide trading and banking services all around the U.S. and the gamification system of invstr will surely help people as a guide for their investment procedure.
According to the CEO and founder of Invstr, Kerim Derhalli, unlike other competitors, Invstr is taking a distinct approach by educating and learning tools upfront. Also, it also enables the users to make a commission-free stock trade.
Objectives Of Invstr
The Invstr Company detailed that-
- Collaboration with Apex Clearing will provide new investing services to the Invstr company.
- Collaboration with Vast Bank will provide banking services.
- Otka company will help in protecting the user data present on the Invstr app.
Invstr has its offices in Istanbul and Newyork, but with the fresh capital, it aims to establish a new brokerage, a portfolio builder, and analytics tools.
The CEO of invstr has elaborated his new offerings objectives, importance, and applications.
He states that the younger generation will get attracted to these new offerings of invstr because of the following reasons-
- This financing education is an app-based education and if we focus on today’s generation, they want to be autonomous when it comes to investing.
- The distrust of traditional financial organizations will also be managed by this tech solution platform.
- It will allow the users to interact with each other and learn from them.
- It has creative financial tools like the fantasy financial solution, which teaches the user to manage a $1M portfolio virtually.
- It will provide detailed analytics to the premium subscribers.
Derhalli also stated that from day one from the foundation of Invstr, taking the business in this direction was planned by him.
Kerim Derhalli told the TechCrunch team that “self-directed investing is the most powerful trend in the US”, and this statement was proved by the above-mentioned points.
Invstr has secured $20M in a series A round, gathered from existing investors as this round was used as a convertible offering. The progress of Invstr is going to give tough competition to the highly used Robinhood app
The CEO, Kerim Derhalli had planned to move in this direction from the earliest time. They aim to provide a proper financial, investing, and marketing education.
They provide Financial education on an online basis.
Also Read About –