Norway based crowd-trading platform Huddlestock has raised $1.5m in Seed Funding from undisclosed investors. Huddlestock allows users to tap into investment ideas and strategies usually only available to professional investment managers.
The funding is performance based, where investors commit half of the funds now, and the rest within 10 months, given that a target share price is met. The funding round is historic for a Norwegian Fintech company at such an early stage, giving Huddlestock a valuation of over $13 million, a record for a company that is currently in beta, and has not yet fully launched. Huddlestock is part of the new generation of Fintech companies aiming to challenge the status quo in the financial markets. The company, established by a team of hedge fund professionals, technologists and entrepreneurs, aims to democratise the investment industry, and open it up to more people allowing them to invest in the financial markets and reap the same benefits that hedge funds and other investment professionals have done for decades.