Thursday, April 18, 2024
HomeFunding Copenhagen-based Pluto.markets Secures €2.4 Million in Funding

[Funding alert] Copenhagen-based Pluto.markets Secures €2.4 Million in Funding

Copenhagen-based Pluto.markets secures €2.4 million in funding to upend the Nordic and international brokerage industry.

Copenhagen-based Pluto.markets secures €2.4 million in funding to upend the Nordic and international brokerage industry.

Read also – Austria-based Atlas Secures $4.5Million in Funding

Technology investor Magnetic, located in Berlin, is leading the funding round. Six local unicorn creators (Pleo, Synthesia, Zendesk, Sitecore), Y-Combinator, Nordic Makers, and other well-known angel investors participated in the round.

CEO & co-founder, Joakim Bruchmann said, ”We expect 2024 to be a breakthrough year in which we will launch across the Nordic region that remains dominated by incumbents with 50%+ profit margins. The financial markets are currently undergoing a true revolution and this round positions us to become the leading challenger in the Nordics and beyond,”.

With an emphasis on the 100 million Europeans who live in nations like the Nordics, where infrastructure bottlenecks have prevented much innovation since the 1990s, the company aims to make investing stupid-simple. It draws inspiration from businesses like Trade Republic and Robinhood.

Read also – London-based Device Authority Secures $7Million in Series A Round Funding

CTO & co-founder, Oscar Vingtoft said, “We stand on an incredible foundation and have already hit regulatory milestones and built technology that other companies raised $40m+ to accomplish, which enables us to unlock new revenue streams and innovate quickly. We were capital efficient before it got cool,”.

David Rosskamp, Managing Partner and founder of Magnetic said, “We are really excited to lead Pluto.markets’ €2.4 million funding round alongside a group of extraordinary investors. We are big believers in financial participation as a driver for lasting and systemic change, which aligns well with Joakim’s and Oscar’s approach, starting with modern proprietary core banking infrastructure for underserved regions. The gap in the market is obvious and the Pluto team has proven that they have what it takes to win,”.

About Pluto.markets

Rebuilt from the ground up to offer the experiences that contemporary investors demand and deserve, Pluto is the new investment app from Nordic. Constructed and governed entirely in Denmark.

Read also – Düsseldorf-based Kauz Secures €2.3 Million in Funding

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