Bangkok-based stock trading and analytics platform StockRadars announced today it raised an undisclosed funding led by CyberAgent Ventures as well as a number of angel investors.
Coinciding with the funding round, the company launched real-time trading capabilities within its app. Previously it had been an analytics app, but now users can trade on the SET (Stock Exchange of Thailand).
The funding will be used mainly for offline marketing and hiring.
“We have removed the barriers and enabled anyone to trade stocks in Thailand,” said StockRadars CEO Teerachart ‘Max’ Kortrakul, in an official statement.
“Our technology and app has always helped people get ahead by analysing stock performance, but now we offer the complete solution for investment.”
One of the investors was stock market trading tycoon ‘Sia Pong’ Watchara Kaewsawang, which the company highlighted as an important validation for the startup.
StockRadars is launching in eight additional markets — Hong Kong, China, Taiwan, South Korea, Japan, New Zealand, India and Singapore. At this point, only the analytics portion of the app will be functional in markets outside of Thailand.
When e27 asked Kortrakul how StockRadars competes with other trading apps with a local-market advantage, he said,
“We believe in simplicity. While most stock apps love to show as much information as they can, we try to humanise stock trading via a simple experience.”
The simplified U/X is in line with the company’s mandate to democratise the stock market and open up trading to people outside of the financial class.
StockRadars was launched in 2013 and in January 2015 it raised another undisclosed fund from East Ventures and CyberAgent.