Synthesia and Flatpay founders back Pluto.markets in $6M raise
Danish neobroker Pluto.markets has secured $6 million in a seed funding round, signaling a significant step towards challenging established brokerage services in the Nordic region. The investment was led by Danish VC firm Seed Capital and saw participation from prominent figures in the European tech scene, including founders of Danish unicorns such as Synthesia, Pleo, and Flatpay. This backing highlights growing confidence in innovative European fintech solutions aiming to disrupt traditional financial markets. Pluto.markets offers commission-free trading of fractional stocks, ETFs, and cryptocurrencies, directly competing with models adopted by international players like Robinhood and Trade Republic. Having obtained an EU-wide investment license, the platform began customer onboarding 14 months ago and already boasts over 10,000 users in its initial market, Denmark. The company aims to expand its reach across the Nordics and eventually broader Europe, with a specific focus on markets with diverse local currencies. The newly acquired funds are earmarked for market expansion and the development of novel investment products, with a particular emphasis on disrupting the ETF market for both individual and business clients. Pluto.markets plans to introduce offerings unique to the European market this quarter, positioning itself as a key player in democratizing asset management. This strategic move underscores a broader trend towards European digital sovereignty in financial services, fostering local innovation to compete with global giants.
Curated and translated by Europe Digital for our multilingual European audience.
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