Global retail brokerage firm Tradier has secured $24.6m in its Series B funding round, which was led by PEAK6 Strategic Capital.
Existing Tradier backers F-Prime Capital and KF Business Ventures also joined the round.
With this capital, the WealthTech company hopes to accelerate its growth by providing traders and partners with advanced features, live content and custom services.
Over the course of the year, Tradier plans to expand its product offering with a market-first platform and content hub, portfolio margin, an expanded API offering, global debit funding, futures and crypto to service this growing market segment.
Tradier had a strong 2022, with traders who signed up for the platform’s subscription plans averaging an account size of $30,000 and executing an average of 150 trades each month. Additionally, Tradier’s equity share and option contract volumes have increased 100% year-over-year.
This investment has come at the emergence of a new base of active retail traders that demand custom platform and content engagement. Tradier has named this phenomenon the “graduation effect,” as active retail investors demand a more differentiated brokerage offering compared to the traditional single platform offerings from brokers.
The WealthTech company is a cloud-based financial services provider and brokerage API company designed to help platform providers, advisors, developers and individual investors.
Tradier CEO and co-founder Dan Raju said, “Tradier’s mission is to create a network where traders can choose their own platforms to meet their evolving needs while being empowered by great educational content and low fees. Our embedded brokerage model powers us with intelligent data to better understand retail behaviours across over 150 connected platforms every day. We have an extremely loyal partner base and active trader community.
“Our agile team has been able to capitalise on the market changes and service them with technical innovation and dedication.”
In other WealthTech news, Global wealth management platform FNZ partnered with full-service digital bank Virgin Money to release a new digital investment solution for UK retail investors.
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