Funding

• Altruist , a digital wealth management platform, has raised USD 112 million in Series D funding led by Insight Partners, with participation from Adams Street Partners, Bill McNabb, Ron Carson, Marty Bicknell, and others. Altruist’s total funding now stands at USD 280.5 million. The company intends to utilize the funds to support further development of its platform, broaden its service offerings, and strategically increase its market share within the registered investment advisor (RIA) market. (April 12, 2023; Company press release , FinSMEs )

• Tradier , an online brokerage platform and infrastructure solution provider, has raised USD 24.6 million in Series B funding led by PEAK6 Strategic Capital, with participation from F-Prime Capital and KF Business Ventures. Tradier’s total funding now stands at USD 30.7 million. The company intends to channel the fresh capital toward further development of its platform with added features and broaden its service offerings. (April 13, 2023; Company press release , FinanceFeeds ) 

Partnership

• eToro , an Israel-based online trading platform, has announced a partnership with Twitter which will allow it to feature real-time price movements for stocks, crypto, and other assets while on Twitter and also enable users to trade by being redirected to the eToro trading platform. (April 13, 2023; CNBC , TechCrunch )

Regulation/policy

• Robinhood , an online trading platform for stocks, ETFs, options, gold, and cryptocurrency, has been fined USD 10 million for operational and technical failures arising from insufficient regulatory compliance that led to retail traders being unable to withdraw funds, make, and process trades as required. (April 6, 2023; Press release , Cryptopolitan )

• Betterment , a robo-advisory platform that offers both digital-only and hybrid investment management services, has been charged by the Securities and Exchange Commission for material misstatements and omissions relating to its automated tax loss harvesting service (TLH), provide clients with notice of changes to contracts, and maintain certain required books and records. (April 18, 2023; Press release , ComplianceWeek )