The startup says it has more than 10,000 users in its native Denmark.
Danish tech luminaries, including leaders from Synthesia, Pleo and Flatpay, are backing Pluto.markets, a Danish YC-backed investment platform looking to disrupt the brokerage market in the Nordics, in a new funding round.
Danish challenger neobroker Pluto.markets was founded in 2021 by Joakim Bruchmann, a former base metals trader at Goldman Sachs, and Oscar Vingtoft, a software engineer.
The $6m funding round, which Bruchmann says is a seed round, was led by Danish VC firm Seed Capital with participation from existing investors and Thomas Delaney, the Danish professional footballer.
The round also features a host of Danish unicorn founders.
These include Jeppe Rindom, Pleo co-founder, Sander Janca-Jensen and Rasmus Busk, Flatpay co-founders, Victor Riparbelli and Steffen Tjerrild, Synthesia co-founders, Andreas Sachse, Podimo co-founder, Alex Aghassipour, Zendesk co-founder, as well as Lars Fløe Nielsen and Michael Seifert, Sitecore co-founders.
This new funding brings the total capital raised to nearly $10m since the startup’s inception in 2021.
Pluto.markets offers users commission-free trading in fractional stocks, ETFs, and cryptocurrencies.
The challenger is looking to replicate the success of the likes of Robinhood and Trade Republic across the Nordics.
The startup, which secured an EU-wide investment license before it started major fundraising, began onboarding its first customers 14 months ago.
Bruchmann said the funds will be used to move into new markets and launch new products.
He said: “Our next move is to disrupt the ETF – for both individuals and businesses – and already this quarter, we will launch products that the European market hasn’t seen before.
“Securing support from nearly every Danish unicorn founder of the last decade is the ultimate seal of quality. They know what it takes to disrupt established industries at high speed. With their help, we are ready to make Pluto the preferred investment platform across Europe and reinvent asset management.”
The startup says it has more than 10,000 users in Denmark, its first market. Its focus is on the millions of Europeans living in countries that have their own local currencies, like the Nordics.