Online investment platform Propel(x) has scored $5.5m in a new investment round to help it build new services.
The round was supported by Franklin Templeton, FreeS Venture Capital, Sky Saga, Capital, ZhenFund, MIT Alumni Angels of Northern California and other unnamed family offices an angel investors.
With the equity injection, the company hopes to create new features to help investors make informed decisions. It also plans to grow its operations and increase marketing.
The FinTech offers an online platform which connects science and technology startups with investors. The investment platform enables retail investors to back companies across the aerospace, transportation, life sciences, industrial technologies, energy and green technologies, IT and communications, and food and agriculture sectors.
Investors can explore a range of opportunities on the Propel(x) platform, with investments beginning at $5,000.
Propel(x) CEO Swati Chaturvedi said, “Private markets will become more accessible and transparent due to our platform, as we make early investment in technology startups available to ordinary accredited investors worldwide. As companies stay private longer, more people want to participate in a company’s early investment rounds and Propel(x) provides that opportunity for a wide spectrum of investors.”
Earlier in the year, Franklin Templeton contributed to the $25m strategic investment round of Capital Markets Gateway, a platform modernising the equity capital markets (ECM).
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