Among the contestants for this year’s Benzinga Fintech Awards is Vetr, a platform that crowdsources ratings for the stock market.
Benzinga recently interviewed J.D. Singh, director at Vetr, where he elaborated on what the company does and how it was founded.
How Was Vetr Founded?
“We started the company about a year ago, and the idea really came from a couple of things where we felt that the investment research is broken for the retail investor and then we also felt that the crowdsource model is now a proven model -- specifically in other industries -- to make better decisions,” Singh said.
“We created a platform that lets users create ratings and we crowdsource ratings with the stock market.”
Related Link: Advizr Looks To Disrupt The Financial Advising Space
According to Singh, creating a rating on Vetr is “super simple.”
He explained, “Just [set] a target price and a target date. So, Apple is going to $150 in a year. That is enough for a rating on our platform and then we aggregate all those ratings and then we visualize it in the form of a star rating on the overall stock level.”
Funding, Team Size, Growth?
“We got angel money right in the beginning through Jan Van Eck, who is the CEO of Van Eck Global,” said Singh.
&ldquot;He is a big advocate of the idea; he loves star ratings for a stock market. We launched, we went live about six-months ago. The team is really small; we try to keep it really lean. It started of with two of us and we just hired a third person a few months ago […] we are growing pretty quickly in terms of users adopting the platform and we want to keep going above.”
Watch Benzinga's Interview with JD Singh below:
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