Since launching in 2012, TradingView has built a reputation as a ‘go to’ place for interactive trading charts. The company’s success can be connected to their decision to incorporating a social trading community within their chart offering. The result is that users can draw technical charts, add commentary and then share them to the TradingView community or embed them on 3rd party websites. According to TradingView, the site presently has over 500,000 active users, with 10% month over month in unique user.
After coming to market as a consumer facing website and building an active users base, TradingView has since launched charting package solutions for business such as brokers and websites. With the founding team connected with MultiCharts and having experience creating trading platforms for brokers and professional traders, TradingView’s business model from the get go was always to eventually bring to market a system that incorporates their social network with trading. However, their intention was to first build up a community user base before entering the B2B market.
7 Habits of a Highly Effective DeFi TraderGo to article >>
With TradingView now having both launched its business offering and built an active trading network, the firm has announced the closing of a $3.6 million Series A funding round today. Led by iTech Capital who invested $3 million in TradingView, the chart provider plans on using the funds to “develop and launch new services, including localisation, as well as expanding their sales and marketing efforts to enhance customer acquisition activities and implement new data feeds.”
As part of their acquisition of a minority stake, iTech Capital’s Gleb Davidyuk and Alex Telnov will be receiving seats in TradingView’s board. A European based private equity fund, iTech Capital invests in firms in multiple sectors including financial technology.
Commenting about their decision to invest in TradingView, Gleb Davidyuk, Managing Partner of iTech Capital, stated in the public news release that “Since its inception, the business model has successfully demonstrated continuous monthly growth in user acquisition and revenues. With the capital and experience provided by iTech Capital, we believe that TradingView can capitalise on the significant opportunity.”