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Trader-Based Social Network TradingView Raises $37 Million In Series B Funding

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Trader-Based Social Network TradingView Raises $37 Million In Series B Funding

TradingView, winner of Best Analysis Tool at Benzinga’s 2017 Fintech Awards, announced Monday that it closed a $37-million round of Series B financing meant to expand its software suite and international reach.

The seven-year-old company operates one of the market’s largest financial and social platforms meant to democratize trading among self-directed investors.

With more cash on hand, TradingView intends to expand over the next six to 12 months by:

  • Moving its headquarters to the financial hub of New York;
  • Expanding charting and analytics data with the potential addition of options;
  • Adding more U.S. and international brokers, such as Robinhood, E*TRADE Financial Corp (NADSAQ: ETFC) and TD Ameritrade Holding Corp. (NASDAQ: AMTD);
  • Incorporating big crypto exchanges; and
  • Building out mobile and app platforms.

It also plans to improve international interactions.

"There's a lot of things to be done in terms of visibility in each region," TradingView COO Stan Bokov told Benzinga. "China is huge in the trading world, and it requires Weibo, QQ and Alipay integrations, etc. so we'll be focusing a lot on local needs, what kind of news they need, data, experience, pricing, etc."

TradingView's products appeal largely to millennials but also support institutional clients such as CME Group, Investopedia, Zacks and national exchanges.

"TradingView has clearly emerged as the preeminent charting platform and social network for active traders," Peter Johnson, vice president at Jump Capital, said in a press release. "Their tools have become an invaluable resource to the trading community, as demonstrated by their rapid growth to over 8 million monthly users and integrations into thousands of leading exchanges and financial applications."

In its early days, TradingView got a boost from TechStars Chicago and secured $3.7 million from TechStars, Irish Angels, iTech Capital and other angel investors. Its latest round of financing was led by Insight Venture Partners with contributions from Jump Capital and DRW Venture Capital.

Related Links:

'Trading Is The Ultimate Goal': Fintech Is Dictating The Development Of Cryptocurrency

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Photo courtesy of TradingView.

Posted-In: Benzinga Fintech Awards Stan Bokov TradingViewCryptocurrency Fintech News Financing Markets Best of Benzinga

 

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