TradingView, a social trading platform and community of retail investors, announced this Wednesday that it has acquired TradeIt, a fintech application programming interface (API) and application provider.
This is the first acquisition for the company and allows customers of TradingView to trade through major US brokers from wherever they are. Thanks to TradeIt’s API and service suite, the two companies claim they will serve more than 10 million monthly active users in 150 countries, linking to more than $70 billion in active assets at top U.S. brokerage firms.
While details of the deal have not been disclosed, an article from TechCrunch, which cites sources familiar with the deal, reports that the transaction was under 20 million dollars and in the “high teens.”
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Denis Globa, TradingView founder and Chief Executive Officer (CEO) said: “TradeIt’s secure and compliant relationships with established U.S. retail brokerages, coupled with their robust integrations with top investing apps, allows TradingView to be part of the backbone of the investing ecosystem.”
TradingView has partnered with a number of firms including Crunchbase, Investopedia, SeekingAlpha, Zacks, Binance, CME Group, Entrepreneur and as Finance Magnates reported, GAIN Capital, among others. Altogether, the company supplies more than 40,000 websites globally with charts and quotes, the statement said.
TradingView Plans to Expand the TradeIt Ecosystem
Looking to the future, the US-based firm plans to extend the TradeIt ecosystem. This will be achieved by creating new products, such as Account Opening and Proxy Messaging Delivery, among others. In addition, TradeIt customers will now also have access to TradingView’s charting and quote capabilities.
“TradingView’s vision aligns strongly with our view of the distributed financial networks of the future,” added Nathan Richardson, the CEO of TradeIt. “We’ve worked with TradingView for several years now, and always felt our complementary products and shared retail investing users makes us stronger together.”