Tech

Lightyear, a new equity trading app by early Wise employees, secured £ 6.1m for launch in the UK

Early Wise (formerly TransferWise) employees Martin Sokk and Mihkel Aamer were founded Light year In 2020, after realizing that they share a strong common opinion — investment in Europe is broken. Along with Lightyear, the duo wanted to shake Europe’s retail investment sector.

Raise $ 8.5 Million

In its latest development, Lightyear has announced an additional $ 8.5 million in funding led by Mosaic Ventures, along with existing investors Taavet + Sten and Metaplanet.

Angel investors such as Monzo supporter Eileen Burbidge, Wise CTO Harsh Sinha, and Salv CEO Taavi Tamkivi also participated.

The latest funding announcement will be made in 3 months Secure $ 1.5 Million Preceed Round From a cohort of fintech industry powerhouses. This brings the total funding before launch to $ 10 million.

The round also welcomed Ott Kaukver, CTO of checkout.com, Wander Rutgers, former president of Robinhood UK, and Kaarel Kotkas, founder of Veriff.

Meanwhile, the company also hired Chris Sunbler, Wise’s marketing leader. Chris Sunbler has led numerous teams in his six-year business.

With this funding, the company will be able to accelerate its expansion plans and provide transparent, low-cost investment to everyone in Europe.

Eliminate unnecessary barriers and fees

Lightyear combines multi-currency accounts with unlimited access to the global market, allowing clients to invest without hidden fees. Lightyear is using its platform to eradicate the ambiguity and injustice charges imposed on retail investors.

Lightyear is tasked with reversing this pricing model by providing clients with the tools to add, hold and invest money in multiple currencies and eliminate the need for conversion.

With unlimited access to over 1,000 global equities, Lightyear’s first iteration of the app (minimum executable product or “MVP”) will begin onboarding 5,000 customers from the waiting list today.

Lightyear has offices in London, England and Tallinn, Estonia.

Mosaic co-founder and partner Simon Levene said: The customer experience is uncracked, and most of the current offerings serve only their local country. Lightyear’s mission is to provide pan-European investors with access to the global market and provide all the data and education they need. Eliminate all hidden and confusing pricing with a simple and transparent business model. We are pleased to help TransferWise’s two veteran executives, co-founders Martin Sokk and Mihkel Aamer, empower experienced retail and new investors across the continent. “

Martin Sokk, Co-Founder and CEO of Lightyear, said: Iteration of our app. More people are investing in Europe than ever before, but there is still a long way to go. Our goal is to provide access to global markets and make it cognitively easy to invest without hidden fees throughout Europe. We are pleased to have a strong investor group that shares this vision with us. ”

Eileen Burbidge, who personally invested in Lightyear as an angel investor, said: bring the action. Over the past year and a half, more and more people are interested in retail investment. This team is special, coupled with this highly ambitious, highly talented and sincere team. We are excited about Lightyear’s commitment to transparency and building a friendly and comprehensive platform where everyone has the best access, tools and confidence to invest. “



Lightyear, a new equity trading app by early Wise employees, secured £ 6.1m for launch in the UK

Source link Lightyear, a new equity trading app by early Wise employees, secured £ 6.1m for launch in the UK

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