Free investing platform Pluto has raked in $4m in its seed funding round, which was led by at.inc.
Capital also came from Switch Ventures and Caffeinated Capital.
Based in California, Pluto aims to bring systematic investment approaches to retail investors. Its app abstracts the programming and execution side of the equation so investors can focus on strategy. Its automated investing platform helps users build portfolios of crypto and stocks.
It claims this means retail investors do not need to develop technical or programming skills or worry about adequate computing systems. Pluto also manages the data and servers where all the execution takes place from strategies constructed in their app.
The platform also uses NFTs as a proof of ownership for its marketplace. Users can sell or lease their own trading recipes or use professionally architected strategies from marketplace creators. Marketplace creators monetize their deep financial background, while protecting their intellectual property.
Its marketplace lets anyone sell or lease time on their strategies while hiding the underlying methodology. All strategies are graded by an internal system that tests them before they can be distributed.
Pluto co-founder and COO Dakota McDaniels said, “I see a future where retail invests in strategies from the best minds in the industry to weather bear markets and capitalize on bull markets. I also want to make sure we protect and educate our users to help them make better investment decisions.”
Fellow cryptocurrency platform, Babel Finance recently closed an $80m Series B funding round, which put its valuation at $2bn. The company focuses on crypto lending and trading to institutional clients.
Copyright © 2022 FinTech Global