Swedish startup Quartr enables investors to make smarter decisions, extends seed round to $7.1 million
Summary
At a time of major market turbulence, during which access to company information is more important than ever, Swedish app Quartr has raised a $2.6 million extended seed round to help build out its product, which includes recordings of earnings calls and financial documents from major companies. The additional investment takes its total raised to $7.1 million.The funding comes on the heels of Quartr unveiling its latest feature dubbed Insights, which uses data from S&P Global to provide valuable but often inaccessible company data, including analyst estimates and financials.Founded in 2020, the platform gives anyone access to critical company information and earnings calls. Its customer base comprises both retail investors and companies, who can use the app and how users interact with it to learn more about investor sentiment.The startup will use the funding to scale its development team and additional products, including a B2C app and a B2B desktop solution.The round was led by existing investors The \xd6hman Group, with participation from Flat Capital (the investment firm of Klarna CEO Sebastian Siemiatkowski) and Centripetal Capital, in addition to existing investors Michael Batnick, Josh Brown, and Barry Ritholtz. Quartr joins renowned names like Klarna, Discord, Budbee, and Getir on Flat Capitals investment portfolio.With previous investors including the likes of Peter Sterky, CEO of Trift Capital and former CFO of Spotify; Dan Castillo, co-founder of the OnlinePizza group (acquired by Delivery Hero); and Jacob Hellqvist, former CFO of Epidemic Sound, the company has come a long way.The app is available for free in over 2,500,000 played events from over 5,500 companies in 19 markets. Rather than the traditional method of dialing in live to discover company information, all data can now be found within a few clicks.Quartr recently launched a Search For Anything feature, where all company transcripts worldwide on the platform are included in the same search engine, timestamped to audio so users can scroll to key moments.Talking about the new funding, Sami Osman, CEO and co-founder of Quartr said: By being able to access any company call, document, or other data points 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.
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