Lubna "Robo Trading" Platform Receives Funding from East Ventures
The fresh funds will be used for product development and talent acquisition for analyst team
Prayogo Ryza - 3 May 2019
Lubna, a startup that provides trading robot for various financial assets, announces seed funding from East Ventures. The plan is to use the funding for further product development and talent acquisition for analyst team.
Lubna was created to provide one-stop solution in cryptocurrency trading and financial assets for beginners and experts. The system is to automate crypto trading for member's account registered in merchants, such as Indodax, Bitmex, Biance, Bitfinex, and Huobi.
"It's hardly possible for retail investors with permanent job like me to achieve maximum profit due to incapability to always maintain our portfolios. In addition, I see many retail investors, particularly the beginners having difficulty to get positive results due to lack of knowledge and insight of investment. Robo trading is what we've seen as the solution," Lubna's CEO, Kevin Cahya said.
Kevin is not the only one with background in East Ventures, Lubna also run by Eddy Hartanto and Arthur Soerjohadi. The experience of them should present a unique algorithm that is approved in Lubna and capable to increase profit in the process of trading assets.
"One of our bot is having victory level up to 48% of the total 288 transactions they've made in two months, resulting 148% profit for investors," he added.
Lubna also provide a dashboard that allows users to go through technical and fundamental analysis of their trading. The system also present real-time notification everytime the robot make trading. The developing project is not only to help data management but also to eliminate the emotional effect when making an investment. Artificial intelligence behind the development can make decision based on data collection.
"The main reason behind the young generation decision to trade crypto is because the easy apply, the fast and simple process, starts from product introduction to money withdrawal back to the account. Lubna is in the right spot to accelerate the participation of young generation. Its vision to make trading for user easier will be the main advantage for Lubna to be the first successful crypto trading robot in the region," East Ventures' Partner, Melisa Irene said.
– Original article is in Indonesian, translated by Kristin Siagian