Austrian investment tech startup Wikifolio has raised €6 million funding to expand operations beyond its current markets, Austria and Germany. The round is led by European early stage investor Speedinvest, with the participation of existing investors VHB Ventures (Verlagsgruppe Handelsblatt), Lang & Schwarz, Michael Grabner Media and private investors that include Michael Altrichter and Jörg Flöck.
The company offers an alternative way for those who want to invest in stocks. Investors and companies create and publish their stock strategies via financial products named “wikifolios”. These wikifolios are listed on Stuttgart stock exchange and the investor can buy and sell them very easily through his/her brokerage account.
This method, which is dubbed as “social investing” by the company, also helps less-knowledgable investors to start by putting money in the wikifolios of renowned stock traders.
Vienna-based company now plans to expand to other major financial markets across Europe. So far, it has processed more than €190 million via its Wikifolios.