Malaysian fintech app nets $15.5m in series A money

Gotrade, a Malaysia-based investing app, has raised US$15.5 million in a series A round led by Velocity Capital Fintech Ventures.

Team Gotrade / Photo credit: Gotrade

The funding will be used to grow Gotrade’s team and launch localized versions of its product in various markets, starting with Southeast Asia.

The startup also said it is rolling out its services in Indonesia, allowing users to invest as little as US$1 in the likes of Tesla, Apple, and Netflix on its commission-free platform.

It has partnered with Valbury Asia Futures, the Jakarta Futures Exchange, and the Futures Clearing House of Indonesia – all regulated by the country’s derivatives regulator Bappebti – to design a derivative that gives the end users market access to US stocks. As part of the deal, Valbury Group owner Andrew Haryono has been recognized as a co-founder of Gotrade.

Gotrade also announced two senior executive hires: Tan Hui Lynn and Jeremy Ng, joining the startup as general counsel and chief financial officer, respectively.

Founded in 2019 by Rohit Mulani, Norman Wanto, and David Grant with the mission to make investing accessible to everyone, Gotrade allows users to buy fractional shares in global giants on the New York Stock Exchange and Nasdaq. It claims to now have 500,000 users from over 140 countries.

Last year, the fintech platform raised US$7 million in a seed round.

The series A round also saw participation from:

• Mitsubishi UFJ Financial Group
• Beenext
• Kibo Ventures
• Picus Capital
• LocalGlobe
• Social Leverage
• Raptor

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