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Tradier, a cloud-based financial services company, has raised $24.6 million in a Series B funding round Led by PEAK6 Strategic Capital.
The latest financing round was also bankrolled by existing investors F-Prime Capital and KF Business Ventures.
The new investment is intended to help Tradier expand its business and grow its customer base, as well as to invest in new products and services. With fresh capital in hand, Tradier plans to develop new solutions that give its traders and partners access to advanced features, live content and more custom services.
Tradier had already established itself as a leading provider of brokerage infrastructure and technology solutions for financial institutions and fintech firms. With the series B funding, the company will utilize the funds to invest in new products and services, including its white-label trading platform and mobile apps, as well as to expand its brokerage services for individual investors.
The funding also helps Tradier expand its network and partnerships with top fintech firms such as Robinhood, Stocktwits, and TradingView.
“Our embedded brokerage model powers us with intelligent data to better understand retail behaviors across over 150 connected platforms every day. We have an extremely loyal partner base and active trader community,” said Dan Raju, CEO, Chairman, and Co-Founder of Tradier.
“PEAK6 Strategic Capital has an extensive history of investing in Fintech and is very happy to partner with Tradier. We are impressed with Tradier’s simple, yet scalable business model and unique mix of products and services,” added Jay Coppoletta, Chief Corporate Development Officer at PEAK6.
Tradier had a remarkable year in 2022, with traders who subscribed to its platform had an average account size of $30,000 and conducted an average of 150 trades per month. Additionally, the platform experienced a 100% year-over-year increase in equity share and option contract volumes.
Tradier attributes this growth to a new generation of active retail traders who are seeking more personalized platforms and content engagement, a phenomenon that the company refers to as the “graduation effect.” As a result, in 2023, Tradier plans to expand its product offerings by introducing a more differentiated brokerage stack including content hub, portfolio margin, an expanded API offering, new futures and crypto instruments to better serve this expanding market segment.
The company offers an AI algorithm solution for a $99 subscription fee with no commission or other fees. From Tradier’s perspective, its offering generates value for its users as it provides a trading edge in the markets by sending insights about macro events as they happen.
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