Connecting the dots in FinTech...’s Post

Singapore-based fractional share trading startup Gotrade (YC S19) has raised $15.5 million in a Series A round led by Velocity Capital Fintech Ventures. MUFG, BEENEXT, Kibo Ventures, Picus Capital, LocalGlobe, Social Leverage, and Raptor joined the round. Launched in 2019, the Gotrade app lets users invest as little as $1 in ETFs and fractional shares of US stocks, commission free. In its first year, the firm has racked up over 500,000 users from over 140 countries, transacting more than $400 million across five million trades. Gotrade likens its service to Robinhood but without the "controversial" practice of monetising order flow. Instead, it makes money from charging 0.5% to 1.2% in FX fees if users choose to deposit their funds in local currency that is then converted into US dollars for trading. Read the full Finextra article through the link in the comments below. 👇 #donedeal #funding #fundinground #seriesa #startup #fintechstartup #trading #fintech #financialtechnology #financialservices