dough, an online broker and wealth creator, has pulled in $20m from financial network news website tastytrade.
The WealthTech offers commission-free trading on listed stocks and ETFs, with no minimum account sizes. Its mobile-based services costs customers $1 a month to use for unlimited trading. Furthermore, anyone which joins the waitlist will get the first-year subscription for free.
Customers will be accepted onto the platform in September.
dough CEO Victor Jones said, “The next generation of investors are looking for more than bare-bones investing and wealth management platforms targeting them with slick promotions only to leave them high and dry when it comes to content, service, and functionality. dough is going to elevate the level of competition.”
Tastytrade, an online video news network for investing and trading, backed dough to support the rise of financial engagement and encourage new generations to establish portfolios.
Last month, retail investing and trading giant Robinhood closed its Series E on £323m, valuing the FinTech at a colossal $7.6bn. The company is backed by investors including DST Global, Ribbit Capital, NEA, and Sequoia, and is using the funds to further grow its customer base.
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