Mobile investing platform 8 Securities Group has secured $25m in its Series C round from Nomura Asset Management.
The investment comes as part of a strategic partnership between the two groups. As part of this, 8 Securities will launch new digital wealth management services, such as robo-advisory and mobile investing for millennials. Both parties will also work together on building new FinTech initiatives across Asia.
8 Securities is an Asia-focused online stock trading mobile app that aims to simplify the investing experience for consumers. The app, which is available on iOS and Android, offers a zero-commission platform to trade more than 15,000 Hong Kong, Us and China-based shares.
Accounts on the platform can compile a user’s global portfolio, with an automated currency exchange to make international trades easier. 8 Securities also implements algorithms that provide investors with real-time analysis of a portfolios diversification and risk score.
This equity injection will be used to bolster customer growth, develop new products and support its R&D, according to 8 Securities CEO Mikaal Abdulla. Part of the funding will also be used increase the size of its software development team and expanding its presence to new geographies.
8 Securities executive chairman Mathias Helleu said, “We are excited to welcome Nomura Asset Management as the first strategic investor into 8 Securities. The investment validates our vision, technology and focus on the next generation of wealth in Asia.”
Since the company launched its services in 2012, the company has raised a total of $60m in capital investments.
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