Covey Raises $2.5M to Build a Community Where Analysts Share their Investing Strategies, Compete for Monthly Rewards, and Top Performers Earn the Right to Manage Investor Money, Generating Higher Returns for More
Summary
Coveys analyst-owned community hosts hundreds of analystsranging from hobbyists to traditional finance industry veterans, and everyone in between and is designed to find and reward the worlds next top money managers. Top performers receive token rewards, and earn the option to become a Money Manager in Coveys copy trading fund.NEW YORK, July 21, 2022 /PRNewswire/ -- , the first analyst-owned community created to find and reward the worlds next top money managers, closed a $2.5M seed round led by and with participation from and .The barrier to entry for investing has been lowered thanks to fintechs enabling the mainstream adoption of commission-free investing, microinvesting, cryptocurrencies, and more. "Having spent 7 years personally overseeing ideas at large hedge funds, I learned how hard it was to beat the market, but I also saw a small group of Analysts that consistently won. "Its no secret that traditionally, Wall Street has only been accessible to those who could afford prestigious educations or with deep enough pockets to open a hedge fund, but that doesnt necessarily mean that these are the best people to be heading up investing strategies. Covey is allowing everyone the opportunity to test their strategies and then those with the best performancewhether it be a well-read flight attendant using their downtime to get smart on stocks, a young up-and-coming student who spends a lot of time on Reddit and Twitter, or your traditional financial services industry veteran that frequents the Wall Street Journalcan become money managers based purely on merit.