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Search resuls for: "Trade Republic"


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Klarna is assembling a team to build a stock-trading tool to compete with Robinhood, according to an internal message seen by BI. AdvertisementSwedish fintech firm Klarna is hiring a team to build a product that would compete with Robinhood's trading platform by letting customers buy and sell stocks through its app. "Our mission is to obliterate the barriers to consumer investing and empower every Klarna user to build their financial future in a single place - the Klarna App," the internal message said. Lombaard said the company is exploring the possibility of "offering customers the opportunity to buy and sell stocks" and exchange-traded funds, or ETFs, in the Klarna app. Related storiesA spokesperson for Klarna told BI: "Klarna continuously explores new product concepts to serve our customers.
Persons: Klarna, , Ludo Lombaard, Lombaard, Uber, Jyoti Mann Organizations: BI, Service, Business, Apple, Adidas, Klarna, Bloomberg Locations: Swedish, Europe, jyotimann
Naro, a German fintech startup, has raised $3 million in pre-seed funding. Cologne-based Naro, founded in 2022, wants to take advantage of the boom in exchange-traded funds — or ETF — products in Europe to offer white-label services to various banks, funds, and brokers. Naro's pre-seed funding round was led by Berlin's La Famiglia alongside Discovery Ventures, plus investment from Robin Capital, Angel Invest, and various angels. Funding will go towards expanding the startup's current team of 10 staff as it looks to partner with potential customers looking to build out products within their existing infrastructure. Naro's business plan subsequently changed from its original slides, you can see a version of its pre-seed pitch deck below:
Persons: Chris Püllen, Püllen, Naro's, Berlin's La Organizations: Business, Trade Republic, Discovery Ventures, Robin Capital, Angel Invest, Credit Suisse Locations: Naro, Cologne, Europe, Germany
Pluto Markets, a trading app backed by famed accelerator Y Combinator, has raised $2.6 million in fresh funds. The Danish fintech startup, founded in 2021, wants to upend the market for retail trading offerings in Europe. "Companies raised a lot of money to blitz scale across the EU but have now focused on their core markets. Unlike most fintech brokerages, Pluto secured an EU-wide investment license before it had raised $1 million in funding, having bootstrapped and stayed lean. You can check out Pluto Market's 14-slide pitch deck below:
Persons: Joakim Bruchman, Goldman Sachs, We've, Bruchmann, Pluto, Oscar Vingtoft Organizations: Business, Companies, Trade Republic, Saxo Bank, EU Locations: Danish, Europe, Denmark, France, Germany, Berlin
Venture capital firm Sequoia has hired a sixth partner for its London office, Insider understands. Venture capital firm Sequoia has bolstered its presence in Europe with the hire of its sixth partner in London, Insider understands. "Since Julien joined us as an associate five years ago, he's become a valued member of our London team," Accel partner Sonali De Rycker said. Sequoia will expand in Europe despite a broader contraction in venture capital funding to European startups. Sequoia has closed 21 deals in Europe in the three years since it opened in London, Crunchbase data shows.
Persons: Julien Bek, Accel's Luciana Lixandru, Sequoia's Lixandru, Bek, Julien, he's, Sonali De Rycker, Slay, Matt Miller, George Robson, Anas Organizations: Sequoia, . Venture, Apple, Accel, London, Investment, Investments, Trade Republic, Global Founders Capital, Revolut Locations: Sequoia, Europe, London, California, China, India, Southeast Asia, Geneva, Switzerland, Lixandru
The unraveling of fintech darling Vise
  + stars: | 2023-03-03 | by ( Stephanie Palazzolo | ) www.businessinsider.com   time to read: +28 min
It was April, and more than two dozen salespeople who worked for the fintech startup Vise had been ordered to a multiday off-site at the W Hoboken hotel in New Jersey to share exhaustive reports on their performance. Even salespeople at bigger, established, top-tier investment-management firms typically wouldn't close $250 million in a year, multiple sales employees said. (K-means clustering is an unsupervised machine-learning algorithm often referred to as a form of AI, Vise's founders said). (Vise's founders disputed this, saying the company received updated financial data only once a day for its portfolio-construction engine.) And to address its "leaky funnel" of overestimating prospective sales, Vise was to stop outreach to new clients while it onboards and upsells to existing clients, the document said.
Europe's neobrokerage startups face cuts and consolidation as funding dries up, sources say. For startups that can't fundraise it's "shoulders against the wall," one investor told Insider. Europe's brokerage startups are facing a winter of job cuts and consolidation as the sector battles with slumping trade volumes and a scarcity of investor cash, industry sources say. The drop-off has made raising funds a difficult exercise for many fintechs and has also led to a bifurcation in the market of the "haves and the have-nots," one London-based investor told Insider. Market consolidation will be driven by price, one fintech fund partner told Insider.
Sumit Kumar, a 34-year-old coder from Hamburg, Germany, quit his $300,000-a-year job at Stripe. He left in May 2022 to build his startup Parqet, a financial platform he started as a side project. He told Insider why walking away from his job to pursue his own business was the right choice. Sumit Kumar, 34, quit his 300,000 euro, which is around $300,000, job as a solutions architect at the fintech Stripe to build his own financial platform. Kumar said he's planning to focus on Google Ads, which he hopes will arouse new interest among investors as he's no longer completely ruling out funding rounds.
Investing app Public.com is in talks to acquire Dutch trading startup Bux, sources say. Bux was valued at an estimated $320 million to $480 million in 2021, but the expected deal price is lower. Investing app Public.com is in talks to acquire Dutch stock trading startup Bux, according to two sources with knowledge of the discussions. New York-based Public has been in active talks with Bux for two months, the sources said. Bux has never stated its valuation but was valued between $320 million and $480 million at its 2021 funding round, according to Dealroom estimates.
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