The innovative copy-trading platform in the United States, dub, has revealed securing £17 million in funding.
This investment round garnered support from a consortium of venture capital firms and individual investors, notably including the CEO of Uber and the Co-founder of Robinhood.
dub’s platform extends an unprecedented opportunity to everyday investors to mirror the portfolios of emerging investment managers, renowned hedge funds, or even elected officials with a single tap.
This democratises investment practices and offers accessibility to strategies that were previously exclusive to institutional investors.
Operating under the regulatory oversight of the Securities and Exchange Commission and registered with FINRA, dub’s affiliated broker-dealer facilitates copy-trading, in alignment with the evolving investment preferences among contemporary investors.
“A decade from now, instead of picking stocks, we’ll be picking people to invest in,” said Steven Wang, the Founder and CEO of dub.
“It’s already how my generation is investing, with the rise of social media and commission-free investing. Humans are narrative- and fear-driven creatures.
Digitally-native creators have mastered the art of storytelling and are building fervent communities that leverage social accreditation to guide their investment decisions.
With dub, we’re building the creator economy for finance.”
Leading the seed round is Tusk Venture Partners, with participation from a distinguished group of investors such as Robinhood’s co-founder Nathan Rodland, Uber’s CEO Dara Khosrowshahi, and Roger Ferguson, Jr., former vice chair of the Federal Reserve Board of Governors.
Additionally, the funding includes notable personalities like Ryan Tedder from OneRepublic and executives from prominent financial institutions.
dub’s platform leverages the social-media-driven creator economy, providing diverse investment philosophies and strategies at individuals’ fingertips.
Through its app, investors can replicate portfolios. Furthermore, users can also share their own investment portfolios for replication, fostering a community-driven approach to investing.
The infusion of £17 million in funding enables further expansion of its platform.
With a seasoned executive team drawn from illustrious institutions, dub is poised to redefine the landscape of retail investing, empowering individuals with access to diverse investment strategies.