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FinTech startup aiming to 'democratise' investment closes seven-figure seed funding round

Huddlestock, the crowd trading investment startup, has announced it has raised $1.5m in seed funding.

The firm, which hails from Stavanger in Norway but also has an office in London as part of the Level39 FinTech accelerator, is aiming to democratise investment markets by providing regular people with investment insight and strategies from investment managers and professionals.

Still only in beta, the firm is now valued at around $13m, and is poised to launch in the UK in the coming months before a worldwide roll-out.

According to FinExtra, the Oslo-headquartered business has resisted significant interest from large institutional investors to stick with its current base of investors, which includes Norwegian family investors and unnamed private investors.

Murshid M. Ali, Chief Executive Officer at Huddlestock, commented: “The past few months have been exciting for us. We have been signing agreements with great partners, and aim to collaborate with banks in several markets.

“They understand our value proposition, and are interested in working with us in offering their customers our platform. We are building a hub where companies that provide genuine value to our users can benefit by working with us.”

The seed funding is understood to be performance-based, with investors providing half of the total now with the second half to follow in the next 10 months providing a target share price is met.

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