Watch out, Robinhood — this one’s coming in hot. And sans GameStop baggage (*cue mental shudder*).
Meet Invstr: the investing app that teaches trading know-how.
It just raised a $20m Series A and recently crossed 1m+ users (same as another trading app, Public). In contrast, Robinhood has ~13m.
Not your normal investing platform
Invstr appeals to younger generations by tugging on these trends:
- App-based: Consumers want to be self-directed and autonomous when it comes to investing.
- Distrust of banks: Users prefer tech solutions as they don’t trust traditional financial institutions.
- Socially based: Users want to interact and learn from each other.
A focus on financial literacy
Founder Kerim Derhalli, a former banker, saw an opportunity to create an investing platform that was both social and substantive, with:
- Creative financial tools: The app’s Fantasy Finance stimulation teaches users to manage a $1m portfolio.
- Banking and investing in one spot: AKA no more waiting 3+ days to transfer cash from an external bank account. Goodbye, slow death by ACH.
- Detailed analytics: Subscribers in the premium version can view trading behavior and performance metrics.
Here’s to savvier trading. We wish you bull markets and low interest rates.
