Retail investing app Newchip secures $2m in Seed funding round

Business and real estate investment marketplace Newchip has secured $2m in its Seed funding round.

The investment received contributions from JadeValue Fintech, Yeoman’s Capital, Spunik ATX, Youbi Capital, and Polymath.

This funding comes alongside the announcement the platform has reached over 50,000 individual users.

US-based Newchip is an online investment marketplace which supports both new and experienced investors. Users can invest from as little as $100 into startups, pre-IPO companies, real estate, REITS, and securitised tokens. Entrepreneurs can raise up to $50m through the platform.

The company recently opened up its marketplace to blockchain and securitised tokens Newchip looks to add new sectors, categories and investment opportunities to the platform every month.

JadeValue Fintech general manager Johan Uddman said, “Newchip brings access and transparency to the world of startup investing for the everyday investor. By leveraging state of the art technology to aggregate and sort out the best deals, Newchip removes the traditional hurdles of startup investing and provides an unmatched user experience where the next ‘big deal’ is just a swipe away.”

Last month, fellow online retail investment solution WeInvest reportedly raised $12.3m in its Series A funding round. The deal saw Schroders bag a majority stake in the company, with unnamed angel investors also contributing to the round.

North America dominated the retail investing and trading sub-sector of the WealthTech space last year, in terms of investment volume. According to data by FinTech Global, of the $470m invested into these companies globally, around 56 per cent of the capital was invested in North America.

Copyright © 2018 FinTech Global

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