Thinknum Raises $1 Million As Company Evolves From Two-Man Startup
Five months ago, Thinknum was a bootstrapped, two-man startup. The company built an open Web platform for financial analysis and had already attracted the likes of Goldman Sachs (NYSE: GS) and JP Morgan (NYSE: JPM).
Now, the company has announced that it has raised $1 million in a seed round led by legendary angel investor Pejman Nozad. Nozad is famous for being the first man to invest in Dropbox.
Other big names participated in the round as well, including Green Visor Capital, which is managed by former Visa Chairman and CEO Joe Saunders and former Citigroup executive Simon Yoo; and Signatures Capital Partners. The round was also joined by 645 angels and 500 startups.
Thinknum was originally built by Zhen and his co-founder, Gregory Ugwi. The two entrepreneurs ran the company from a home office. They recently hired two programmers and plan to expand the team with additional hires.
Attracting Top Talent
Thinknum continues to attract some of Wall Street's biggest players, and now hedge funds are beginning to take notice.
"We've definitely expanded our user base from many of the major firms on Wall Street and also a lot of hedge funds -- Bridgewater, for instance," Zhen said.
To ensure that its growth spurt doesn't end, Thinknum plans to apply the $1 million investment to the areas that need it most.
"We're a tech company, so building technology [is] where the focus will be," Zhen said. "We definitely plan to expand marketing and ultimately hire sales people."
Disclosure: At the time of this writing, Louis Bedigian had no position in the equities mentioned in this report.
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