Investment will fuel the completion of Sarna Finance’s mobile investing platform and rollout in the US and overseas
Sarna, a trading and investing platform, has announced new seed investments totaling over $2.5 million from venture capital firms with deep experience in fintech and financial services. The infusion of capital will help the firm bring its mobile investing app, currently in beta, to market in the United States this summer and in Europe at the end of 2023. The company will also continue building its best-in-class risk management engine for real-time customer buying power calculations that enables T+0 settlement.
“We’re grateful for the investment as well as the vote of confidence in our vision for the future of digital brokerage”
“We’re grateful for the investment as well as the vote of confidence in our vision for the future of digital brokerage,” said Dominik Sarna, founder of Sarna. “The importance of finding investors with an understanding and history of success with investments in financial technology and services cannot be overstated. We are looking forward to working closely with them to reset the technical standard for the industry.”
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Previously in stealth, Sarna raised across two rounds. Motivate Ventures led Sarna’s pre-seed, while the seed raise was led by Simplex Ventures, and included participation from both Wedbush Financial Services and Wedbush Ventures, and several angels with trading, clearing, and financial services backgrounds.
“Across their myriad of trading and investing solutions, we’ve seen the Sarna team’s thoughtful and visionary goals for the options, equities and ETF markets,” said Kate Kitto, head of Simplex Ventures, the venture capital arm of leading proprietary trading firm and market maker, Simplex Trading. “We’re proud to be leading their latest seed funding rounds and bringing to market a company that is helping to shape the future of finance.”
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“Dominik and team are creating the first retail brokerage entirely built from the ground-up, ensuring proper risk management controls and an ‘always-on’ customer experience,” said Lauren DeLuca, Founder and Managing Partner at Motivate Ventures. “It’s a true testament to the durability and resilience of the backend that their internal risk management systems are licensed to other broker-dealers and clearing firm partners. Motivate is proud to support such technical expertise and an aim to bridge the US and EU markets with a modern customer experience. While legacy brokerage technology will continue to face outages driven by accelerating market volume and volatility, Sarna is responsibly and reliably pushing towards a safer and more promising future of investing.”
“Sarna’s team of industry veterans is building the next generation retail brokerage platform for US and European investors,” said Petra Griffith, Founder and Managing Director at Wedbush Ventures. “Rather than putting a modern skin on legacy infrastructure, Dominik and team are building the technical backend and internal risk management capabilities for today’s trading volumes and volatility with intraday buying power calculations and margin capabilities. Wedbush Ventures is proud to support Sarna’s mission to reset the technical standard for the digital brokerage industry.”
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