<div>
  <p>
  </p>
  <ul>
    <li>
      <p>
        Avenir, an investment solution provider for wealth managers, raised USD 530,000 in a pre-seed funding round, with participation from SFC Capital, Techstars, and other individual investors.
      </p>
    </li>
    <li>
      <p>
        The fresh funds will be used to boost its operations and expedite development endeavors.
      </p>
    </li>
    <li>
      <p>
        Based in the UK, Avenir offers personalized investment options directed at financial advisors and wealth managers. The firm uses AI and direct indexing technology to provide investment solutions.
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://www.finsmes.com/2024/04/avenir-raises-530k-in-pre-seed-funding.html">
      FinSMEs
    </a>
  </p>
</div>


Retail Trading Infrastructure

<div>
 
 <p>Avenir, a UK-based investment solution provider, has raised USD 530,000 in pre-seed funding from SFC Capital, Techstars, and various individual investors. The firm plans to use these funds to expand operations and speed up development projects.</p>
 <p>Avenir provides personalized investment options for financial advisors and wealth managers, utilizing artificial intelligence and direct indexing technology to deliver investment solutions.</p>
 
</div>

Avenir raises USD 530,000 in pre-seed funding to expand operations and for development

ANALYST_QUICK_TAKE

INCUMBENTS_PRESENT

PROMINENT_CATEGORY

<div>

<p>Moomoo, a digital trading platform, has teamed up with Nasdaq to improve the trading experience for retail investors on its platform. This partnership entails Moomoo providing its users with a free trial of Nasdaq TotalView for three months. Nasdaq TotalView delivers a complete market depth by showcasing the entire order book depth on Nasdaq, which includes 60-level bid and ask quotes.</p>

</div> <p><b>Analyst QuickTake:<br>
 </b> <a href="https:<br>
//sp-edge.com/updates/21474"> Last year </a> , Moomoo also partnered with the New York Stock Exchange (NYSE) to leverage NYSE’s content and educate investors on financial products, trading, and other industry insights. Moomoo also recently launched its <a href="https:<br>
//sp-edge.com/updates/24470"> Podcast Mobile Money </a> by Moomoo, a weekly podcast delivering updates on market news and insights, investment concepts, and ongoing economic developments with in-depth financial education.</p>

Moomoo partners with Nasdaq to enhance product offerings

<div>
 
 <p>UK-based robo-advisory platform, Wahed Invest, specializing in Shariah-compliant investments, has named Mohsin Siddiqui as its new CEO, succeeding Junaid Wahedna, the founder and previous CEO.</p>
 <p>Prior to this appointment, Mohsin joined the company in 2023, serving as the chief operating officer. He has amassed significant leadership experience from his previous roles, including the chief revenue officer at RegTech firm ComplyAdvantage, and chief customer officer along with the managing director at OANDA, an online trading platform.</p>
 
</div>

Wahed Invest names Mohsin Siddique as new CEO

<div>
 
 <p>Belong, a UK-based robo-advisory platform, raised GBP 2.95 million (~USD 3.7 million) in pre-seed funding. The lead investor was Octopus Ventures, with Viola Fintech, Connect Ventures, Portage Ventures among the participants.</p>
 <p>The raised funds will be allocated to scaling the company's platform.</p>
 <p>The company recently launched from stealth mode and is accepting waitlist registrations until the end of April this year.</p>
 <p>Established in 2023, Belong's focal market includes working millennial professionals. Aside from its robo-advisor services, it proposition includes a low-interest loan feature named Boost Loan, which aids users in augmenting long-term investments in equities.</p>
 
</div>

Belong exits stealth with GBP 2.95 million in pre-seed funding

<div>

<p>Online trading platform, Robinhood, has launched its commission-free trading service in the UK. This platform allows users to trade US stocks without any commission or FX fees and also offers a 5% interest on cash not invested.</p>
<p>However, pending regulatory discussions, Robinhood has put a pause to their plan of offering margin trading at 12% interest in the UK. Initially, they had claimed that they could provide margin investing without checking customer's suitability because of a regulatory exemption. But, there is still no comment from the Financial Conduct Authority (FCA) regarding this exemption.</p>

</div> <p><b>Analyst QuickTake:<br>
 </b> Today’s launch of Robinhood’s UK arm follows after the company scrapped previous plans for a UK launch in 2020 before announcing a second attempt in November 2023. Robinhood <a href="https:<br>
//sp-edge.com/updates/27225"> reported </a> 24% YoY growth in net revenue last month, and also announced plans to expand globally, building on its progress in the UK and EU, with plans to explore further opportunities to expand its customer base outside the US.</p>

Robinhood launches commission-free trading platform in UK

<div>
 
 <p>WeBull, an online trading platform, has introduced a cash management solution for Canadian investors. It offers 4% CDN or 3% USD interest on uninvested cash. The interest is accumulated monthly without any account minimums, lockups, or restrictions.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> The company recently <a href="https:<br>
//sp-edge.com/updates/27566"> launched futures and commodities trading </a> in the US and <a href="https:<br>
//sp-edge.com/updates/27220"> plans to go public </a> via a SPAC deal with SK Growth Opportunities Corporation (NASDAQ:<br>
 SKGR) with an implied pro forma enterprise value of approximately USD 7.3 billion.</p>

WeBull launches cash management solution in Canada

<div>
 
 <p>M1 Finance, a digital investing platform, has been hit with a USD 850,000 fine by the Financial Industry Regulatory Authority (FINRA). The fine is due to M1 Finance's use of social media influencers to advertise their platform, with content that was deemed unbalanced and made misleading claims. This contravenes FINRA rules regarding Communications with the Public and Standards of Commercial Honor and Principles of Trade.</p>
 <p>The promotion occurred from January 2020 up until April 2023, with about 1,700 influencers paid to advertise M1 Finance's services. These campaigns resulted in the opening of over 39,400 new accounts. However, M1 Finance did not review or approve the promotional content and did not implement a satisfactory supervisory system. Despite not admitting or denying the charges, the firm agreed to address the issues identified in FINRA's findings.</p>
 <p>This case is particularly significant because it is the first time FINRA has carried out disciplinary action towards a company supervising social media influencers. The action stems from FINRA's close examination of businesses' use of social media platforms as a tool for attracting customers.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> Other regulatory actions taken against retail trading companies in the recent past include 1) Titan <a href="https:<br>
//sp-edge.com/updates/21474"> facing SEC charges </a> for violating marketing rules, resulting in a cease-and-desist order, censure, and USD 192,454 in disgorgement, plus a USD 850,000 penalty for misrepresenting investment performance and other compliance breaches and 2) Goldman Sachs being fined <a href="https:<br>
//sp-edge.com/updates/22257"> USD 6 million </a> by the SEC for failing to provide accurate securities trading information.</p>

M1 Finance fined by FINRA for USD 850,000 over violations regarding social media influencer program

<div>
 
 <p>Digital wealth management solution provider OneVest has entered a partnership with professional services company TrueNorth. The aim of the partnership is to integrate OneVest's platform with TrueNorth's services and extend their reach across North America.</p>
 <p>The partnership will see OneVest utilizing TrueNorth's expertise in development and implementation. This is to integrate its wealth solution into the digital ecosystems of clients, consequently modernizing and facilitating growth within the banking sector. TrueNorth's clients will gain access to OneVest's advanced technology for bespoke wealth management solutions, thus streamlining processes and enhancing client experiences.</p>
 
</div>

OneVest partners with TrueNorth to expand product reach in North America

<div>
 
 <p>WeBull, a digital trading platform, has introduced futures and commodities trading to its range of products. This move allows users to diversify their investment portfolios with more types of assets.</p>
 <p>The platform is now equipped to provide users access to diverse asset classes, encompassing commodities, currencies, and indices. Complementary educational resources, tools, and analytics are provided to support a deeper comprehension of these investments, and to endorse portfolio diversification capabilities.</p>
 <p>The novel security offerings are designed with the intent of allowing users to speculate on projected price trends while not requiring the actual ownership of the underlying asset. This facilitates the deployment of investment strategies to speculate on major economic events and assets. As of now, the service availability is limited to the US, WeBull, however, has plans to extend these offerings to global markets in the future.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> WeBull has recently announced plans to <a href="https:<br>
//sp-edge.com/updates/27220"> go public via a SPAC deal </a> with SK Growth Opportunities Corporation (NASDAQ:<br>
 SKGR). The company has an implied pro forma enterprise value of approximately USD 7.3 billion and will be listed on Nasdaq under a new ticker symbol.</p>

All Updates