Huddlestock swipes $1.5m for crowd-based trading

Crowd-trading platform Huddlestock has raised $1.5m in a seed round of funding.

The capital comes from a number of Norwegian family offices and private investors.

The investment is performance-based with Huddlestock receiving half now and the rest in 10 months if it meets a target share price.

The company aims to democratise stock market investment by allowing ordinary consumers to invest as a group in stocks chosen by Huddlestock’s team of professional investors.

The Oslo and London-based company says the round is the largest ever taken on by an early-stage Norwegian fintech startup.

The round values Huddlestock at $13m.

The company plans to launch in the UK initially before rolling out globally.

It also intends to partner with other fintech startups, such as robo-advisors to benefit from the added technology.

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