The founders of investment platform Strategy Store and creators of the PAMM account concept have announced that the firm will be revamping its operations after receiving a new round of funding.
Strategy Store will venture into targeting end clients after raising additional capital from RuStars Ventures. The firm’s seed fund is aimed at investing in companies operating on the Russian web.
The firm decided to switch its strategy to target the end user instead of developing a B2B service which can be then offered to different brokerages. The financing round deal between Strategy Store and RuStars Ventures has already been closed. No financial details have been provided by the companies.
Commenting on the news, the CEO of Strategy Store said, “We are in the process of registration of our own brokerage company in an effort to be able to fully implement our vision of an ideal investment service for a broad audience of investors all over the world. In order to guarantee quality, we need to have control over all aspects of the service, including deals execution.”
What is Paper Trading and Why it Matters?Go to article >>
The Executive Director of RuStars Ventures, Anton Starskiy, commented, “We are glad to finally announce closing the deal. We are sure that Strategy Store is going to have a bright future. This is one of the most competent teams on the market, a unique technological product and a huge fast-growing market.”
As a broker, Strategy Store will be sourcing liquidity from Exness, where client funds will also be held. This effectively makes the company an introducing broker for Exness. According to the company’s announcement, the brokerage will be 100% STP.
The CEO of the firm, Dmitry Orlov, added, “Considering our focusing on providing the investment service, we want to eliminate any conflict of interest with our clients. We earn from commission and a share of the fees from our clients’ profit, thus we are interested in high quality of deals execution. Now we are testing the service live version with the first clients.”
“The customer funds are accepted and the liquidity is provided by our partner Exness. We are very pleased with the conditions provided to us and look forward to our long-term cooperation,” he added.