Canada-based Blossom Social, which is building a social network for retail investors, has reportedly closed a pre-seed investment.
The capital was supplied by Pareto Holdings, a venture fund launched by Jon Oringer and Edward Lando, according to a report from Vancouver Tech Journal.
Its app, which is currently invite only, is aimed at creating a community of investors. Its website boasts it is “changing investing from a solo game to a team sport.”
On the app, a user can see what their friends are doing, explore their portfolio allocations, stock picks and investment rationale. It also lets the user link their brokerages to the app so they can track everything at once.
Other features include community discussions and real-time notifications when friends make trades.
Blossom CEO Maxwell Nicholson told Vancouver Tech Journal, “Investing is inherently social. The new generation of investors learn about stocks from group chats, Reddit and Discord. Blossom aims to displace these channels by creating a platform built specifically for investors.”
The FinTech company launched a private beta in November and has $12m in assets on the platform.
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