Gotrade provides an app enabling international users to buy fractional shares of NYSE and Nasdaq stocks and ETFs from $1, marketed with no commissions. The company monetizes primarily via 0.5%–1.2% foreign-exchange fees on local-currency deposits and offers instant deposits so users can start trading immediately. Its app launched a year ago after receiving clearance from the Labuan Financial Service Authority of Malaysia. Gotrade reports about 500,000 users across more than 140 countries, roughly $400 million transacted and approximately 5 million trades to date. The startup is testing a $2/month premium tier called Gotrade Black with advanced charts and analyst data. Part of the new capital will be used to build localized app versions and payment integrations while the company explores markets across Southeast Asia, including a dedicated Gotrade Indonesia offering. The company has also added Andrew Haryono as a co-founder for its Indonesia operations and partners with local firms to provide fully backed market access to U.S. stocks there. Gotrade provides fractional trading of U.S. stocks to retail investors across roughly 150 countries, enabling users to buy portions of expensive U.S. shares with minimum deposits around $1. The app launched three months prior to the article and is currently invite-only; Gotrade says sign-ups have grown 20% week-on-week and the platform has more than 100,000 users with an average account size of about $500. The company acts as an introducing broker to Alpaca Securities, uses fully-funded cash accounts (no margin), and user accounts receive SIPC protection up to $500,000. Gotrade charges no commission, custody, inactivity or dividend fees and monetizes via small currency-exchange fees on deposits and interest on uninvested cash. It offers in-app educational content and plans to add a premium subscription and a virtual debit card. The newly raised capital will be used for hiring and product development, with a strong focus on expanding in-app content.

Total raised

$23M

Funding rounds

2

Latest round

Series A

Latest activity

Apr 2022