The funding will help Commonstock enhance its ability to monitor and verify investment activity amid the rise of retail investing. Here are the top-line bullets you need to know.
Commonstock, a social media platform for the financial markets, has raised $25M in a Series A. The round drew participation from Abstract Ventures, QED Investors, Resolute Ventures, and Floodgate, among others.
HOW’S THE COMPANY PERFORMING?
- California-based Commonstock allows retail traders and investors to connect, share and receive real-time updates on capital market and investment activity.
- The company has also instituted features meant to verify information posted by users on the platform — users are required to link brokerage accounts that show investment and performance activity.
- It has reportedly connected more than $1B in assets on its platform. It also claims that the average account linked with its platform consistently outperforms the S&P 500.
WHY DOES THE MARKET MATTER?
- The global WealthTech solution market is expected to grow at a CAGR of 14.1% and reach a value of $137.4M by 2028, according to The Insight Partners.
- The pandemic has seen a major change in market functionalities — the rise of retail investing has led to increased interest in Main Street information.