Fintech startups seeking regulatory approval in the UK have asked the Financial Conduct Authority to revamp its authorisation process to help keep London ahead of the game in financial technology innovation.
Amsterdam's international outlook means that its startups aspire to grow at home and abroad. With an above-average gross national income, an English-speaking community and 58 million passengers travelling through its airport every year, the city is a magnet for early-stage founders.
BUX, a mobile equity trading game broker and widely used app in the UK and Netherlands, has welcomed its 500,000th user, amidst an announcement that it will be expanding to Northern Europe and Belgium, per a BUX statement.
There have been countless services and apps that have come along promising to bring stocks and shares to the masses.
Most have failed painfully.
The challenge of simplifying something so complex in a format that most people can not only understand, but actually enjoy playing with, is a challenge too far for most.
Whether its stocks, commodities or currencies, mention the very idea of trading and you’ll find that most laymen run a mile. To those outside of the industry, the idea of trading is an incredibly daunting one and that’s no surprise considering how completely unapproachable it has been for so long. It’s hard to deny that the world of trading has been one reserved exclusively for those with big money to invest and the technical knowledge to utilise that money.
After adding 150,000 new users to 350,000 registered traders since September 2015, mobile equity trading game broker BUX has announced that it have closed $6.9 million in new financing. Led by Berlin/Munich based Holtzbrinck Ventures, the funding round is the third closed by BUX and its latest since raising $1.9 million from VC Initial Capital in September 2015. Like in its previous round, BUX expects to use the current funds to help it grow across Europe.
Trading app Bux scooped up a third investment of 6.1 million euro, led by German VC Holtzbrinck Ventures, in January, the fintech startup announced today. The money will be used to expand the team, to develop their social network even further and to gain traction in Germany.
More VC being thrown at casual trading startup Bux. The app, which turns stocks and derivatives trading (via CFDs) into a game-like and social experience, thus potentially broadening the market to include a greater number of people who have never traded before, has pulled in a further $6.9 million in funding.
It was Gordon Gekko, the iconic slimeball trader in Oliver Stone’s 1987 movie Wall Street, who first espoused the theory that greed is good. For a generation of high-flying bankers—giant mobile phone in one hand, stock portfolio in the other—those words became a mantra. For most of us, though, the reality of trading stocks felt utterly alien, an incomprehensible ticker tape of numbers that concerned vast corporations but had little to do with everyday life.
Dutch startup Bux is on a mission to open stock trading to a much larger market — namely, those who have never traded before. Its casual trading app for iOS and Android attempts to gamify trading (as if wasn’t gamified enough already) by letting traders start off with virtual currency before investing with real money, as well as compete with friends.