Personal finance and investment app FinTron has scored $6.5m in its Series A funding round, as it looks to democratise personal finance for the mobile-first generation.
The round, which brings FinTron’s total capital raised to $10m, was supplied by AUA Capital Management, Connecticut Innovations, Sage Venture Partners and Webster Bank.
Funds from the round will help FinTron expand its organisation, hire more staff, and bolster its technology and product offerings. It is looking to release a new rewards engine, crypto trading capabilities, enhanced education and a neobanking offering.
FinTron aims to educate Gen-Z and millennial audiences about personal finance through educational programmes for thousands of high school and college students across the US.
Through its mobile app, users can conduct commission-free trading in over 2,000 stocks and ETFs. It also boasts budgeting tools and the ability to take things slowly by owning less than one share or buying stocks for as little as $5 apiece. To further support the gradual move into investing, the platform offers a fake investment service to get users experience with how everything works.
It claims to have acquired around 12,000 new users in 2021.
FinTron CEO Wilder Rumpf said “We are grateful to our key investors for their support of our vision to bring financial inclusivity to the 99%.
“Our founding mission remains the same. We strive to make personal finance accessible, understandable, and doable for the mobile generation. With the support of our investors and new key hires, we can now accelerate our efforts to upgrade our product and meet our ambitious growth objectives.”
Last week, Claritus.io launched out of its private beta. The personal finance app offers seasoned institutional investors and novice investors with the information they need to manage their investment portfolio from one location.
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