Algo Trader said to nab CHF 1.4m in round led by NeueCapital

Switzerland-based Algo Trader has reportedly nabbed CHF 1.4m ($1.4m) in a round led by NeueCapital Partners.

Alongside NeueCapital were a group of new angel investors, according to a report for FinExtra.

Algo Trader is an algorithmic trading software developer for quantitative hedge funds. The platform enables automation of trading strategies in equity, forex and derivative markets, providing support for all daily running operations. The application also supports the automatic trading of bitcoin and other cryptocurrencies.

Some of the other features available through the platform include broker and market data adapters, order management and execution algorithms, strategy development, performance analytics and reports, among others.

With this new support, the company hopes to expand by investing in its marketing, sales, and product development, as well as pushing its international expansion, it said.

Earlier in the year, SBI Investment tapped its FinTech fund to make an undisclosed investment in to the Switzerland-based InsurTech platform FinanceApp AG. The company’s wfox service is an insurance product management app that helps consumers find the best policy for their needs.

Trade-io, which is also based in Switzerland, closed its ICO on $31m earlier in the year. The company is a blockchain platform that supports asset trading and supporting consumers with making transactions on exchanges.

The Switzerland FinTech market is led by infrastructure and enterprise software companies, representing 15.5 per cent of the total 303 companies, according to data by FinTech Global.

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