(Picture : Lightyear)
Lightyear is an up-and-coming startup firm providing a brand new inventory market buying and selling platform that caters to rookie funding. They’re a London-based firm, they usually have been garnering the eye of buyers not too long ago.
(Picture : Lightyear)
The startup firm goals to face out by providing a inventory market buying and selling software with a sole deal with creating a singular, commission-free cell app. Because of this, their software, Lightyear, is now often known as a dependable app for utterly waving off account charges, buying and selling charges, and international change charges — as much as a sure level, at the least.
Lightyear acknowledged on their web site that their platform provides a simple and approachable methodology to take a position cash globally with out the burden of further, pointless charges, and obstacles.
For the longest time, the inventory market has been unnecessarily unfair to buyers. They at all times get the shorter portion of the stick, which results in chapter within the worst instances. With restricted entry to the market and the addition of inconveniently costly charges, odd buyers are deprived each single day.
Lightyear talked about that they’re now right here to alter the damaged system.
With the assistance of Lightyear, even rookie buyers might use the app based mostly on their very own beliefs and techniques.
In accordance with Yahoo, the corporate is based by two people – Martin Sokk, co-founder and CEO, and Mihkel Aamer, co-founder and CTO. Its unique identify was TransferWise (now often known as Clever), which implies that the corporate’s aim is to supply a clever solution to make investments from the very starting.
Sokk has expertise in loads of roles reminiscent of head of individuals, head of product, and head of operations. On the opposite finish, Aamer was the engineering lead at Clever between 2013 and 2019.
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In the identical report, Sokk mentioned in an announcement that he has already seen the great, unhealthy, and ugly sides of the monetary service. He talked about that the retail funding system in Europe is on the “ugly” facet — with sneaky charges, lessened entry, and unnecessarily difficult merchandise as a few of the mainstream options of the market.
With this, he mentioned that they’re now creating one thing that can promote change throughout the business within the sense that investing might be open for everybody. With their new Lightyear app, common buyers might spend money on whichever world market they like, they usually can do it their means.
What’s Subsequent for Lightyear?
The Lightyear app will not be prepared for public use, however future buyers might register on their waitlist. In accordance with current experiences, the app will roll out in the course of the third quarter of 2021, which implies that it is solely proper across the nook.
Up to now, Lightyear has already garnered a complete of $1.5 million pre-seed funding spherical in partnership with an unnamed funding firm co-founded by Teleport co-founder Sten Tamkivi, and Clever co-founder Taavet Hinrikus.
Lightyear additionally units to compete with legacy brokers to broaden its attain. For this house, there will likely be sufficient room to suit multiple firm.
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Written by Fran Sanders
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