BOTS raises €13 million funding
Investment app BOTS closes its Series A round with EUR 13 million funding from Amsterdam-based venture capitalist Airbridge Equity Partners and a group of informal investors. BOTS, which has grown very rapidly since its launch 14 months ago, has raised a total of EUR 25 million from investors since its foundation in 2018.
BOTS offers its users the opportunity to invest in various bots, a program that buys and sells based on trading algorithms with a specific strategy. There are now more than 250 bots on the platform. For now, these bots - which use their own strategies - only trade in cryptocurrencies. BOTS expects to offer other types of assets before the end of the year.
Michiel Stokman, CEO at BOTS: "We have shown the potential of algorithm-based trading over the past year. People can choose one or more bots with a strategy and risk profile that suits them. In this way, they don't have to worry about the right buying or selling moment, but can see how the algorithm, the bot makes the decisions. This technology has been used by professional traders for some time but is now also available to private investors. People can invest as little as 50 euros in a particular bot and can stop a bot at any time."
Rick van Boekel, co-founder and partner of investor Airbridge Equity Partners, sees a lot of opportunities to broaden trading with bots and make it accessible to an even larger audience: "BOTS has shown the potential with algorithm trading over the past year. It is currently limited to cryptocurrency, but we hope to be able to expand BOTS to include stock and currency trading soon."
In this latest round, BOTS raised money from Airbridge Equity Partners and from a group of informal investors. Stokman says, "We're pleased with their confidence in our company. We expect our users to be able to choose from bots that trade in regular stocks before the end of this year. In addition, we will put even more focus on the user-friendliness and technological development of our app, which will be live in more than 60 countries early next year."