Kevin Aluwi and Some VCs Participate in GoTrade's Seed Funding
Gotrade is a Singapore-based stock investment app for US companies, it is now available for Indonesian users
Last Friday (6/25) Singapore-based equity investment platform Gotrade announced a $7 million seed funding led by LocalGlobe. In this round, Gojek's Co-Founder & CEO, Kevin Aluwi participated as an angel investor.
Some local venture capitalists were involved, including Amand Ventures, Prasetia Dwidharma, and Brama One Ventures. Also, a Surabaya-based venture capitalist who has invested in a number of startups, including Ayoconnect, Halodoc, NalaGenetics, and others.
Gotrade offers a seamless experience of trading from the United States stock exchange. Currently, this service has been accessible for users in Indonesia on a limited basis. Since its launch, until now, it's still using the invitation model for new users.
The model requires potential users to first get an invitation from the previous user. It is due to the early stage of the application. Gotrade's statistic have shown more than 100 thousand users 13 weeks since the application's launch.
This startup was founded in 2019 by David Grant, Norman Wanto, and Rohit Mulani. They are currently participating in the Y Combinator accelerator program [YC being one of the initial investors].
One of the value propositions Gotrade offers is to break down geographic restrictions for investments, by not charging commissions and removing the minimum deposit size. Users from 150 countries can buy fractional shares in the Dow Jones, S&P 500, and NASDAQ starting at $1.
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