Social Investing Startup Instavest Elevate $1.7M In Seed Funding
Do it socially!
What is Instavest All About?
Investing is no more a private activity now, as a division of YC’s Winter class 2015, a social investing startup Instavest is trying to turn investing into a social activity. The main aim of the site is helping usual retail investors to learn from experienced investors regarding the stock market and investing. Recently, the startup declared that with the association of Skype co-founder Jaan Tallinn, Y Combinator, Cherubic Ventures and more they closed a $1.7 million seed round.
Major Steps Taken for Benefit of Customers
The startup has also proclaimed about their integration with 10 of the well-known online brokerage firms, so users can sell and buy stock from Instavest’s site directly. These brokerage firms include OptionsHouse, E*Trade and 8 more. The Instavest site connects with such firms through their individual APIs, and just after a one-time verification you can sell and buy stock with your chosen brokerage without leaving Instavest. This feature was not present in the original version of Instavest’s site.
What is their Future Plan?
The startup is also launching an innovative way for the experts so that they can make money on the platform. For this purpose Instavest allows experts to create their own paid subscription newsletter through which they can send the stock tips to the user who is willing to pay between $50-100 per month for the tip.
Is it safe to do investing socially using social investing sites like Instavest? Please share your thoughts in the comments section below.
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