The Haarlem-based startup BOTS just closed its Series A funding round with €13 million from Amsterdam-based venture capital firm Airbridge Equity Partners and a group of informal investors. The BOTS Investment app, which has grown rapidly since its launch 14 months ago, has now raised a total of €25 million.
Founded in 2018, BOTS offers its users the opportunity to invest in various bots, a program that buys and sells based on trading algorithms with a specific strategy. There are now more than 250 bots on the platform. For now, these bots, which use their own strategies, only trade in cryptocurrencies – an interesting but highly volatile sector. The BOTS team expects to offer other types of assets before the end of the year.
Michiel Stokman, the CEO of BOTS stated: “We have shown the potential of algorithm-based trading over the past year. People can choose one or more bots with a strategy and risk profile that suits them. In this way, they don’t have to worry about the right buying or selling moment, but can see how the algorithm, the bot makes the decisions. This technology has been used by professional traders for some time but is now also available to private investors. People can invest as little as €50 in a particular bot and can stop a bot at any time.”
Rick van Boekel, co-founder and partner of investor Airbridge Equity Partners, sees a lot of opportunities to broaden trading with bots and make it accessible to an even larger audience. He commented: “BOTS has shown the potential with algorithm trading over the past year. It is currently limited to cryptocurrency, but we hope to be able to expand BOTS to include stock and currency trading soon.”
In this latest round, BOTS raised money from Airbridge Equity Partners and from a group of informal investors. According to CEO Michiel Stokman, BOTS users will be able to choose from bots that trade in regular stocks, most likely already before the end of this year. In addition, the young company will put even more focus on the user-friendliness and technological development of their app, which will be live in more than 60 countries early next year.
BOTS launched in May 2020 and has over 200,000 users in 18 countries. Today, BOTS counts more than 70 employees in 5 countries.
via https://www.AiUpNow.com
September 15, 2021 at 05:30AM by contact@bcurdy.com, Khareem Sudlow
