Israeli fintech company TipRanks has received a $77 million investment, led by Prytek and More Investment House, the company announced Thursday.
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Founded in 2012 by Uri Gruenbaum and Gilad Gat, TipRanks provides a simplified stock research platform that makes alternative datasets accessible and visual for retail investors.
In 2013, TipRanks launched its Financial Accountability Engine to bring transparency to online investment advice for the first time. Using Natural Language Processing it tracks and measures the performance of over 7,000 professional analysts and enables investors to see their track record and evaluate their advice.
Uri Gruenbaum, Co-Founder and CEO said "In addition to being the only company that ranks analysts based on their performance rather than the prestige of the bank they work for, we are the only company that makes aggregated analyst ratings available to retail investors. This gives investors access to information that would otherwise cost tens of thousands of dollars each year."
This investment round comes after a year in which the company saw subscription sales grow by 300%. The company currently has over 4 million monthly users. It also has an enterprise solution used by numerous financial institutions including Nasdaq, E*TRADE, TD Ameritrade, eToro, Bank Santander and others that have integrated TipRanks' research tools onto their platforms.
