202109 Apr
Finary Raises $3.2M To Build The Gen-Z Group Chat Investing Platform
Type
Funding Rounds
Funding
202109 Apr
$3.2MSeed
Source
Forbes
Summary

Darian Bhathena, Jack Phifer, Michael Liu and Roger Cawdette believe that as the younger generation’s involvement in the stock market increases, they will need a dedicated investing platform built around their communication habits, leading them to create Finary. Finary calls itself “Discord for investing.” The startup has recently raised $3.2 million seed round led by Aditi Maliwal of Upfront Ventures, with participation from Dash Fund and prominent angels including Lenny Rachitsky, James Beshara, Daniel Pourasghar, Pragma CEO Eden Chen, Mahdi Raza and Hannarae Nam, and Tik Tok personal finance creator Austin Hankwitz. Through testing, talking to our users, and working with some brilliant minds whove built great consumer products, weve learned that it can be pretty difficult to oversee and maintain an online community, big or small. Cawdette: Right now, were focused on redesigning investing to be a more social and collaborative process but, soon enough, it isnt hard to imagine that Gen Z consumers will be in search of the same themes across other financial services like wealth management and lending, to name a few. But many factors came together all at once to ignite this new age of social investing: a pandemic occurred, markets bottomed out, and people across the country were stuck at home and deeply in need of new forms of entertainment.

Classifications
  • Fintech & Banking