Investor relations fintech Quartr raises another US$2.6mn
Investor relations fintech Quartr has raised a further US$2.6mn for its consumer app, which gives investors access to earnings calls and other company information, taking the total amount raised as part of its seed round to more than US$7mn.
Founded in Stockholm in 2020, the fintech startup has already recruited more than 40 employees and is now seeking to scale its development team and add new products, including a B2C app and a B2B desktop solution. The latest round of investment comes from existing investors The Öhman Group alongside Flat Capital, the investment firm of Klarna boss Sebastian Siemiatkowski; and Centripetal Capital.
Available on iOS and Android, Quartr compiles conference calls and documents on more than 5,500 companies to give any investor easy access to earnings releases, AGMs, capital markets days, earnings reports and press releases. It has had over 300,000 downloads in its first year as retail investing becomes more popular, and the company hopes that its platform will give occasional investors the confidence to keep investing in spite of what it describes as “major market turbulence”.
Quartr aiming to be ‘home of investor communication’
Sami Osman, CEO and Co-founder of Quartr, says: “By being able to access any company call, document, or other data point within a few seconds, we are seeing a considerable proportion of institutional investors signing up on Quartr as their new go-to-place on mobile. And owning the scale of distribution will make Quartr the new home of company communication, with millions of investors researching companies every day.
“We are proud to introduce the participation of several high-profile investors who all started as Quartr users. Although the B2C value [proposition] is somehow proven by attracting more than 300,000 users in the first year, we’re glad to announce several investor relations managers and investor relations consultants seeing what we’re building for companies and wanting to invest.
“With product leading our growth, the capital will almost exclusively go to further recruitment of tech talent to serve the problems our customers are experiencing. With so many trillions of dollars circulating in the financial industry, it’s fascinating to see how far left behind the UX of some existing tools still are.”
Johan Malm, CEO of The Öhman Group, adds: “Quartr is revolutionising the investment process at both ends, reshaping the communications and decision-making of both companies and investors. The company is providing a truly unique service to the investment world, and it's been exciting to be a part of it. We have been so impressed with their growth and leadership so far and are delighted to continue our journey with them.”
More than US$8mn raised to date
The latest investment takes the overall amount raised by Quartr to more than US$8mn. As well as providing access to information for investors, it also gives public companies the outlet to communicate earnings and other financial information with prospective backers.
It recently launched an Embedded Player, partnering with the likes of vaccine maker Moderna and mobile gaming company LeoVegas to allow companies to include their presentations on their websites and in blog posts.
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