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StockRepublic has raised $2.81 million (SEK 30 million).
The spherical was led by Avanza subsidiary Placera Media, which contributed $1.4 million (SEK 15 million).
The connection between Placera Media and StockRepublic started at the beginning of this yr when StockRepublic helped Placera Media function and modernize its inventory discussion board.
B2B social buying and selling platform StockRepublic has raised $2.81 million (SEK 30 million) this week. The brand new funding is greater than double the corporate’s current funding and brings its complete to $5.2 million (SEK 55.6 million).
Main the spherical is Avanza’s subsidiary Placera Media, which contributed $1.4 million (SEK 15 million). The remaining $1.4 million (SEK 15 million) comes from current traders and enterprise angels.
Based in 1999, Avanza is one in every of Sweden’s largest monetary web sites. The agency’s media subsidiary, Placera Media, covers information and updates on equities, funds, and financial savings. The corporate publishes articles, produces podcasts, and launches a number of TV segments every week.
StockRepublic’s partnership with Placera Media started earlier this yr. The social buying and selling firm operated and modernized Placera Media’s inventory discussion board. At this time’s strategic partnership between the 2 will assist StockRepublic ramp up hiring, additional develop its service providing, and proceed its enlargement.
“We’re very proud to have Sweden’s main financial savings platform on board, each as prospects and traders,” mentioned StockRepublic CEO Fabian Grapengiesser. “StockRepublic has beforehand raised capital from prospects, so it’s a confirmed and profitable mannequin for us. This collaboration brings Avanza nearer to us in a really constructive method and permits us to proceed to develop Avanza’s platform with thrilling new providers.”
Sweden-based StockRepublic was based in 2018 and demoed its expertise at FinovateEurope earlier this yr.. The corporate’s platform gives personalized apps and APIs to assist banks and monetary providers suppliers enhance buyer engagement. Particularly, StockRepublic’s expertise permits traders to leverage the expertise and information of different traders and, in flip, share their success. The corporate’s platform is at the moment out there in six markets. Commerzbank is amongst its purchasers.
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