Gotrade, a fintech specializing in democratized stock market investing, formally announced the closure of a $15.5 million Series A funding round led by Velocity Capital Fintech Ventures, with participation from Mitsubishi UFJ Financial Group, BeeNext, Kibo Ventures, Picus Capital, as well as LocalGlobe, Social Leverage, and Raptor, as first reported by TechCrunch.
Gotrade was founded in 2019 to enable anyone in the world commission-free and fractionalized access to the U.S. equity market abroad.
The company raised a $7 million seed round last year and spent the majority of the time since working to grow its team and launch a product.
"Investing in Southeast Asia is broken. Over 600 million people can't access quality investment products at fair prices,” said Gotrade founder Rohit Mulani.
“They are subject to mutual funds with expense ratios exceeding 5%, savings products like gold with 3% spreads, and hidden fees peppered across their portfolios - not just by the incumbents but also by the companies that are meant to be the disruptors. We believe that investing should be fair and users should not have to bear these predatory costs.”
