Gotrade emerges from stealth mode, raising $7M in seed round

SaaS News -Gotrade-gets-$7M (source: SaaS Industry)
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Gotrade emerges from stealth and extends its services across 150 nations, raising $7M in a seed round. Its app is currently available on an invite-only basis and aspires to make investing accessible to anyone

Gotrade, a company that aims to remove cost barriers involved in investing in US stocks, has come out of its stealth mode, raising $7 million in a seed round fund led by LocalGlobe. Social Leverage, Y Combinator, Picus Capital and Raptor Group, participated in the round. Gotrade is now available to users from 150 countries. 

Angel investors – GoCardless (Matt Robinson), Skyscanner (Carlos Gonzalez-Cadenas), Deutsche Bank (Frank Strauss), and Rapyd (Joel Yarbrough)- had participated in the round as well. Launched in 2019, it aspires to make investing accessible to all. Taking the seed funding and launch announcement to its official website, it stresses that through its product, it allows anyone to invest amounts, as little as a dollar, with ease. Its app is at present available on an invite-only basis. 

Gotrade, with its commission-free trading, aims to level the playing field in its domain. It stated in its announcement,

A farmer in Southeast Asia or a student in South America can own a fraction of the same portfolio as Warren Buffett. With Gotrade, anyone in the world can invest as little as $1 into some of the largest companies globally, including Tesla, Apple & Amazon.

Gotrade in its announcement

Remus Brett, a general partner at LocalGlobe, commented on the investment and opined that over the past 100 years, US stocks had delivered average annual returns (around 10 percent). He stated that with compounding, investments worth $1K could touch about 

$13 million today, fuelling wealth creation in the US and other underdeveloped markets. He lauded Gotrade’s potential and said.

We believe Gotrade has the potential to help the world’s 99 percent gain access to the same benefits that the 1 percent have. We are incredibly excited to be joining Rohit, David and Norman on this journey.

Remus Brett, a general partner at LocalGlobe
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