Tradier, a retail brokerage and application programme interface (API) company, has raised $24.6 million from a Series B funding round led by New York-based investment firm, PEAK6 Strategic Capital. In addition, the round saw participation from Tradier’s existing investors, F-Prime Capital and KF Business Ventures.
Tradier Aims at “Graduation Effect”
According to Tradier, the new funding comes at a time when a new crop of active retail traders is demanding more custom platforms and content engagement. The API company tagged this trend the “graduation effect.”
With the new fund, Tradier plans to introduce advanced features, live content and more custom services to its traders and partners. Furthermore, over the course of this year, the retail broker plans to offer these active traders “a market-first platform and content hub.” On top of this, Tradier says it will expand its offerings to include portfolio margin, an expanded API offering, global debit funding as well as futures and crypto services.
"Tradier's mission is to create a network where traders can choose their own platforms to meet their evolving needs while being empowered by great educational content and low fees,” said Dan Raju, Tradier’s Co-Founder, CEO and Chairman.
Tradier Sees Record Year in 2022
As an API company, Tradier serves platform providers, developers and retail investors. The company also powers over 100 retail trading platforms that boast accounts spread across 150 countries.
In 2022, Tradier's business continued to grow as the firm reported a record performance during the year. The firm disclosed that traders that signed up for its subscription plan last year averaged an account size of $30,000. These traders, on average, executed 150 trades each month, Tradier added.
Furthermore, the company said its equity shares and options contracts volume doubled year-over-year in 2022. The development comes as in 2021, Tradier acquired Rho, a commission-free trading app, and integrated the platform’s technology and customers into its platform.
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