Berlin-based getquin, which provides an online community where people can discuss and analyze stocks, cryptocurrencies, ETFs and other investment opportunities raised $15M in a Series A round led by Portage Ventures, known for investments such as Clark and Wealthsimple.
Horizons Ventures, a Hong Kong-based venture capital firm, participated in the round. Horizons Ventures has previously invested in several fintech companies in Berlin, including N26 and wefox.
Existing investors embedded/capital and sino AG, the initial investor in Trade Republic, as well as well-known business angels such as N26 founder Maximilian Tayenthal and Scalable Capital founder Erik Podzuweit, took part in the round, partly through loan conversions.
Fund usage
The funding will be used for further development of the product and internationalization, to make the app available to a wider user base.
The startup, which now has over 200, 000 members in Germany and the DACH region, wants to extend its English-speaking community in order to make its service more accessible to a wider audience.
What does the startup do?
Christian Rokitta and Raphael Steil founded getquin in early 2020 to provide an online community where people can talk about and analyse stocks, cryptocurrencies, and other investment opportunities. It lets users connect and consolidate their existing brokerage accounts, generate and consume information, and participate in user-to-user dialogues.
Christian Rokitta, co-founder and CEO said, “While there is already a substantial amount of financial news and content providers, the recent months have shown that people mostly trust their connections and communities when it comes to financial information. The new investment allows us to invest significantly in the product to transform getquin into the primary source of information for investors around the globe.”
Hélène Falchier, partner at Portage Ventures added, “getquin has established a new way of financial content consumption in the DACH region. The last two years have shown that there is a big need for such a product in many markets, allowing people to build their own community, engage in a trusted relationship, and keep it fun at the same time.”
Getquin competes with companies such as justETF, hanetf and Nutmeg.
Investors seeking social interchange and guidance from the community are becoming more interested in the company, especially in light of recent market turbulence and tech stock declines.
