With an app that democratizes access to critical company information, Stockholm-based startup Quartr has just picked up an additional €2.5 million, taking its total seed round to about €7 million.
Inflation, market turbulence and economic pessimism are just some of the terms being thrown around at the moment. It’s an investment environment that has meant accessing company information is more important than ever. It’s critical to make informed decisions in these rollercoaster times. To make it easier to access this information, and thus empower investors to make smarter calls, whilst simultaneously providing companies with investor insights, Quartr has just announced a total seed funding round of about €7 million.
The fresh €2.5 million raise boosting the seed funding was led by existing investors The Öhman Group, with participation from Flat Capital (the investment firm of Klarna CEO Sebastian Siemiatkowski) and Centripetal Capital, in addition to existing investors Michael Batnick, Josh Brown, and Barry Ritholtz.
Based in Stockholm, Quartr was founded in 2020 by Sami Osman – an inspiring young entrepreneur we reckon has an exciting future ahead. The startup’s app is used by both investors and companies to achieve more insights and information, helping make investment decisions that are more informed and inherently better for the long run.
Quartr enables publicly listed companies to distribute information globally and reach a wider audience while delivering insights and data. With Quartr’s productivity tools, companies can stay up to date with the entire global financial market searchable. By solving the most pressing problems and owning the distribution scale, the aim is to become the home of investor communication.
Sami Osman, Quartr CEO and Co-founder, explained: “By being able to access any company call, document, or other data point within a few seconds, we are seeing a considerable proportion of institutional investors signing up on Quartr as their new go-to-place on mobile. And owning the scale of distribution will make Quartr the new home of company communication, with millions of investors researching companies every day”
The app is available for free on iOS and Android and has already over 2.5 million played events from more than 5,500 companies in 19 markets. Users are accessing valuable company information – such as earnings calls, investor presentations, PDFs of the transcripts, and earnings reports – from the likes of Apple, Meta, Spotify, Moderna, as well as all other publicly listed companies. Rather than the traditional method of dialling in live to discover company information, all data can now be found within a few clicks.
This fresh funding comes as the young startup rolls out its latest feature – Insights. This tool uses data from S&P Global to provide valuable but often inaccessible company data, including analyst estimates and financials.
It’s been an exciting journey for the Swedish team who reported over 300k downloads in 160+ countries in its first year. It also recently launched a “Search For Anything” feature, where all company transcripts worldwide on the platform are included in the same search engine, timestamped to audio so users can scroll to key moments.
Partnering with companies like US vaccine pioneer Moderna, Swedish mobile gaming giant LeoVegas and German unicorn Westwing, Quartr’s popular feature, Embedded Player, also allows companies to include their presentations on websites, articles, and blog posts.
Now, looking to the future, this seed funding will help boost the company’s aim to shake up investor relations for the better. Putting the capital to use, the team of 42 want to scale its development team and add additional products. A B2C app and B2B desktop solution are both in the pipeline.
Sami added: “We are proud to introduce the participation of several high-profile investors who all started as Quartr users. Although the B2C value prop is somehow proven by attracting more than 300,000 users in the first year – we’re glad to announce several IR managers and IR consultants seeing what we’re building for companies and wanting to invest. With product leading our growth, the capital will almost exclusively go to further recruitment of tech talent to serve the problems our customers are experiencing. With so many trillions of dollars circulating in the financial industry, it’s fascinating to see how far left behind the UX of some existing tools still are.”
Johan Malm, CEO at The Öhman Group, said: “Quartr is revolutionizing the investment process at both ends, reshaping the communications and decision-making of both companies and investors. The company is providing a truly unique service to the investment world, and it’s been exciting to be a part of it. We have been so impressed with their growth and leadership so far and are delighted to continue our journey with them.”
via https://www.AiUpNow.com
July 13, 2022 at 09:04AM by contact@bcurdy.com, Khareem Sudlow
