Instavest takes $1.7m for social trading platform

Social investing platform Instavest has raised $1.7m in a seed round having graduated from Y Combinator. The famed accelerator invested in the round alongside Skpe’s co-founder Jaan Tallinn and VC Cherubic Ventures.

Instavest aims to help retail investors enter stock-market trading with advice from experts. Those with more experience and expertise share their stock trades and the thought process behind them with others. If the stocks do well users can then offer a donation to experts.

Experts can also make money on the platform through subscription newsletter designed to give paying users a heads up on their stock choices.

The startup is just one of a wave of companies raising money to lower the barrier to entry of stock market trading with Irish startup Rubicoin raising €1.2m ($1.35m) and Stash taking $9.25m in a Series A this week for their apps.

Instavest previously raised an undisclosed round in August last year.

Copyright © 2016 FINTECH GLOBAL

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