Investment marketplace Newchip lands $2m in funding
For its first round of funding, investment marketplace Newchip has closed on a $2 million seed round. Participating in the round are JadeValue Fintech, Yeoman’s Capital, Spunik ATX, Youbi Capital, and Polymath, reports Julie Muhn at Finovate.
“We started Newchip with a dream to open up access to investments for both entrepreneurs and investors and now, with the closing of our seed funding round, we can achieve what we set out to do,” says Ryan Rafols, founder and CEO of Newchip.
Founded in 2016, Newchip’s marketplace allows users to invest in opportunities from a starting point of $100. The minimum investment, combined with Newchip’s varying investment marketplace, allow investors to curate a diversified portfolio. Some of the investment types include small business, pre-IPO companies, high growth start-ups, blockchain, and real estate.
Since launch, the Texas-based company has built its user base to 50,000 individuals. This is due in part to Newchip being in the Apple app store, where the app recently reached the top 100 list for finance. The app is currently ranked #1 for start-up investing, and is in the top ten for fundraising and stock market investing.
In April, the company began offering security token-based offerings and blockchain powered companies in its marketplace.