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News & Features Finance Investing app Kapitall closes Series A funding round of $7.3m

Investing app Kapitall closes Series A funding round of $7.3m

Written by Entrepreneur Country on Friday, 17 December 2010 15:35
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Stereo Scope, the parent company of KAPITALL, the leading next generation investing application, announces the closing of its Series A financing. As part of the transaction, KAPITALL raised $7.3 million in new cash and converted more than $5.5 million of previously issued promissory notes. KAPITALL's Series A lead investors include Bendigo Partners, a fintech private equity firm started by former E*Trade President and COO Jarrett Lilien, media investor Strauss Zelnick, partner in ZelnickMedia Corp., and Stamford, CT based ES & Partner Ventures, which is affiliated with FalconView Capital Partners.

"The KAPITALL team has taken a brilliant idea and executed it with leading edge site design"

KAPITALL'S revolutionary application has transformed the online trading experience with a unique drag and drop interface and game dynamics that make investing more friendly and engaging than ever before. This round of funding propels KAPITALL into the next phase of its development as it continues its mission to democratize investing for all.

KAPITALL was founded in 2008 in SoHo, New York City, by a team of leading designers, producers and developers from Apple, Bloomberg, Morgan Stanley, Pearson and Electronic Arts. After the launch of its closed Beta in late 2009, KAPITALL has grown its user base exponentially and expanded its staff in New York and Seattle with key executives from ShareBuilder and E*Trade.

Along the way, KAPITALL has made a number of significant enhancements to its offering, among them adding powerful analytical tools, live trading via the nation's leading online brokerage firm, and deep integration with Facebook to make online investing more social.

"We are thrilled to have completed this initial round of funding with the backing of top-tier investors with such extensive experience and impressive track records," said KAPITALL CEO Gaspard de Dreuzy. "The close of Series A is a significant milestone, marking a new chapter in our development. We look forward to accelerating our pace and making investing more inviting for users of all skill levels across all platforms."

"The KAPITALL team has taken a brilliant idea and executed it with leading edge site design," said Lilien, the Managing Partner of Bendigo Partners. "I look forward to working closely with the company's management team to support a rapidly expanding community of investors on KAPITALL's powerful platform."

"We are convinced the market is ready for a new investment platform that allows all types of investors to actively participate in the financial markets" said Roy A. Ellis, the CEO of FalconView Capital Partners. "KAPITALL's social media capabilities, as well as their analytical and investment management tools, position the company strongly in the retail investment market."

Bendigo Partners' Jarrett Lilien and ES & Partner Ventures' Roy A. Ellis have joined KAPITALL's Board of Directors.

New York-based investment bank Silver Lane Advisors advised the company on this transaction.

Last modified on Tuesday, 18 January 2011 11:30
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