Swedish start-up Quartr gains high-profile backers to modernize investor relations
A brand new start-up is trying to modernize the investor relations business to satisfy the surge of latest retail traders.
Swedish start-up Quartr not too long ago raised $4.5 million to assist construct out its product, which incorporates recordings of earnings calls and monetary paperwork from main corporations. Buyers in Quartr embrace executives on the Ritholtz Group — reminiscent of Barry Ritholtz, Michael Batnick and CNBC contributor Josh Brown — and former Spotify government Peter Sterky.
The corporate, which has 23 staff, was based in 2020 and launched its app earlier this yr, CEO Sami Osman stated. The corporate sees its buyer base as each retail traders and the businesses, who can use the app and the way customers work together with it to be taught extra about investor sentiment.
Osman stated that the info uploaded for retail traders to make use of shall be free however there will even be a premium service for corporations to make use of.
“We wish to bridge that hole the place not all people can purchase terminals that may value as much as $30,000 a yr, and we all know there numerous refined retail traders who wish to entry this info,” Osman stated.
The corporate’s app will be downloaded onto smartphones, and customers don’t have to create an account or enter private info as a way to use it.
Quartr has raised greater than $6 million to this point. Osman declined to provide the entire variety of customers however stated the corporate had customers from 160 international locations, with the U.S. being the most important market.