dub, a NYC-based provider of a copy-trading platform, raised $17M in Seed funding.
The round was led by Tusk Venture Partners with participation from a group of venture capital firms and individual investors including Dara Khosrowshahi, CEO of Uber, Nathan Rodland, Co-founder of Robinhood, Apex Fintech Solutions CEO Bill Capuzzi, former Federal Reserve Board of Governors vice chair and TIAA CEO Roger Ferguson, Jr., OneRepublic Front man Ryan Tedder, and others. The funding also included a $2M venture debt facility provided by Silicon Valley Bank (SVB), a division of First Citizens Bank.
The company intends to use the funds to expand operations and development efforts.
Led by Founder and CEO Steven Wang, DASTA Incorporated (“dub”) provides a copy-trading platform that allows everyday investors to replicate the portfolios of emerging investment managers, hedge funds, or elected officials. Its affiliated broker-dealer, registered with the Securities and Exchange Commission and member FINRA, helps facilitate copy-trading, a fast-emerging investment practice suited to today’s investor.
Commenting on the news, Steven Wang said: “It’s already how my generation is investing, with the rise of social media and commission-free investing. Humans are narrative- and fear-driven creatures. Digitally-native creators have mastered the art of storytelling and are building fervent communities that leverage social accreditation to guide their investment decisions. With dub, we’re building the creator economy for finance.”
FinSMEs
22/02/2024