Tradier, a retail brokerage and
application programme interface (API) company, has raised $24.6 million from a
Series B funding round led by New York-based investment firm, PEAK6 Strategic
Capital. In addition, the round saw participation from Tradier’s existing investors,
F-Prime Capital and KF Business Ventures.
Tradier Aims at “Graduation
Effect”
According to Tradier, the new
funding comes at a time when a new crop of active retail traders is demanding more custom platforms and content engagement. The API company tagged this trend
the “graduation effect.”
With the new fund, Tradier plans to introduce advanced features, live content and more custom services
to its traders and partners. Furthermore, over the course of this year, the
retail broker plans to offer these active traders “a market-first platform
and content hub.” On top of this, Tradier says it
will expand its offerings to include portfolio margin, an expanded API
offering, global debit funding as well as futures and crypto services.
“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,” said Dan Raju, Tradier’s Co-Founder, CEO and Chairman.
Tradier Sees Record Year in 2022
As an API company, Tradier
serves platform providers, developers and retail investors. The company also
powers over 100 retail trading platforms that boast accounts spread across 150
countries.
In 2022, Tradier’s business continued to grow as the firm reported a record performance during the year. The firm disclosed that traders that signed up for its subscription plan
last year averaged an account size of $30,000. These traders, on average,
executed 150 trades each month, Tradier added.
Furthermore, the company said
its equity shares and options contracts volume doubled year-over-year in 2022.
The development comes as in 2021, Tradier acquired Rho, a commission-free trading app, and integrated the
platform’s technology and customers into its platform.
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This article was written by Solomon Oladipupo at www.financemagnates.com.
