Trading Ticket, the startup focused on investing, closed a $4 million seed round and has also launched its first product, a mobile-based securities trading platform.
Trade It, as TechCrunch reported Tuesday (Sept. 8), is a platform that lets users place orders to trade via API and across several platforms, ranging from third-party sites to Twitter.
Though the first product is “just getting off the ground,” according to TechCrunch, and is among the first salvos in the broader mission of the company to develop mobile and desktop technology that will cover a range of financial transactions, from credit applications to conversing with financial advisors, the site notes the roster of heavy hitters backing the company.
The seed funding comes from the pocketbooks of Valar Ventures, which is the fund started by tech investing wizard Peter Thiel, and Citi Ventures, which is Citibank’s investing arm. TechCrunch noted that previous investments came from Newfund for an undisclosed amount.
Through the debut platform, the API links up data relevant to a trade, for example, a company name or URL that syncs up with users’ brokerage accounts, with order placement able to be done on a mobile basis. The company has noted that the platform marks the first time that an exchange trading fund, or other securities tied to a backing index or commodity, can be traded without a brokering intermediary.
Management has told the company its business model has a few revenue streams, among them: transaction revenues, fees per orders, marketing sponsorships and technology licensing fees. Among the company’s initial partners: Benzinga, MarketWatch, TheStreet.com and ARK Invest for ETFs.
Though the platform’s technology lets users place trades across both mobile devices and personal computers, the company has said that roughly 80 percent of the initial traffic has come from the mobile side of the business.
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