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World NewsSwedish start-up Quartr gains high-profile backers to modernize investor relations

Swedish start-up Quartr gains high-profile backers to modernize investor relations

A brand new start-up is making an attempt to modernize the investor relations trade to meet the surge of recent retail buyers.

Swedish start-up Quartr not too long ago raised $4.5 million to assist construct out its product, which incorporates recordings of earnings calls and monetary paperwork from main corporations. Investors in Quartr embrace executives on the Ritholtz Group — resembling Barry Ritholtz, Michael Batnick and CNBC contributor Josh Brown — and former Spotify government Peter Sterky.

The firm, which has 23 staff, was based in 2020 and launched its app earlier this 12 months, CEO Sami Osman mentioned. The firm sees its buyer base as each retail buyers and the businesses, who can use the app and the way customers work together with it to be taught extra about investor sentiment.

Osman mentioned that the information uploaded for retail buyers to use can be free however there may even be a premium service for corporations to use.

“We want to bridge that gap where not everybody can buy terminals that can cost up to $30,000 a year, and we know there a lot of sophisticated retail investors who want to access this information,” Osman mentioned.

The firm’s app might be downloaded onto smartphones, and customers don’t want to create an account or enter private info so as to use it.

Quartr has raised greater than $6 million to date. Osman declined to give the entire variety of customers however mentioned the corporate had customers from 160 international locations, with the U.S. being the most important market.

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