VC fundraising for online brokers companies
Broker fundraising is shaped by two cycles founders do not control: venture and trading-revenue. Capital was abundant in 2020 and 2021 when retail volumes spiked, tightened through 2022, and now flows selectively to platforms that have diversified beyond commissions - financing spreads on margin lending, NII on uninvested cash, FX markup, subscription tiers. Investors price on ARPU, asset retention and the regulatory and capital position.
The investor universe is narrow and specialised. Fintech specialists (Ribbit, QED, Index) lead most growth rounds, alongside the larger crossover and growth funds that price multi-asset platform rounds. Strategic venture arms participate where the platform fits a distribution gap - Goldman Sachs, Citi Ventures, and selectively the venture arms attached to incumbent retail brokers. Flow has direct relationships across this base.
Flow has experience running VC fundraising processes for online broker companies across retail equity and options platforms, crypto brokers, FX and CFD brokers, multi-asset platforms and B2B execution and clearing providers. Our extensive investor network spans early-stage seed funds, growth-stage investors, and strategic and corporate VC arms.
"Online brokers" KPIs VC investors look at
The metrics venture investors benchmark before pricing a round - in diligence, at the IC table, on the term sheet.
Funded accounts
Customer assets
Net new assets
Trades per day
ARPU
Commission & PFOF revenue
Margin loan balances
Interest on cash
Asset retention
Online brokers valuations in May 2026
Public online brokers comps trade at 4.8x EV/Revenue. Median revenue multiple across online brokers VC rounds was 8.0x in the last 12 months.
4.8x
Median EV/Revenue as of May 2026 for public online brokers companies
8.2x
Charles Schwab is the highest valued public online brokers company based on EV/Revenue (excluding outliers)
5.0x
Median EV/Revenue across online brokers M&A deals in the last 12 months
8.0x
Median EV/Revenue across online brokers VC rounds in the last 12 months
Key recent online brokers VC rounds
$55M Undisclosed stage raised by Lunar was the largest online brokers VC round completed in the last six months.
See all online brokers VC rounds| Logo | HQ | Description | Investors | |||||
|---|---|---|---|---|---|---|---|---|
Jan-26 | Lunar |  | Lunar is a Copenhagen-headquartered digital bank founded in 2015 holding a full banking license. The mobile app delivers personal finance tools such as free accounts, payments, savings, loans, investments, and insurance to customers in Denmark, Sweden, and Norway. Operations extend from offices in Aarhus, Copenhagen, Stockholm, and Oslo. | 100AHeartland+1 | $55M | - | Undisclosed stage | |
Mar-26 | Taurex |  | Taurex is a financial services firm with a trading platform for over 1500 CFDs in forex, crypto, shares, indices, metals, and commodities. Traders access MT4 and MT5 plugins, Trading Central insights, and customer support via regional channels. The company hosts community events like the Taurex Bull Run. | Hilt Tatum IV | $40M | - | Series C | |
Apr-26 | Sahi |  | Sahi is a Mumbai-based online trading platform designed for retail and professional traders in India. The service provides advanced tools for equities, derivatives, and commodities trading via mobile app and web interfaces. | AccelElevation Capital | $33M | $200M | Series B | |
Apr-26 | AccuQuant | | AccuQuant is an AI trading strategy platform for automated cryptocurrency trading. The platform uses algorithms to analyze global crypto market data and identify trading opportunities. | - | $20M | - | Undisclosed stage | |
Dec-25 | Major League Trading® |  | Major League Trading is a regulated platform for retail traders featuring performance verification, analytics tools, and incentive alignment without fund custody. | - | $13M | - | Seed | |
Jan-26 | River | | River Financial is a San Francisco-headquartered financial services provider specializing in Bitcoin custody and trading. Launched in 2019, the firm operates a brokerage platform equipped with advanced security features, including multisig vaults and full-reserve custody. It serves institutional and high-net-worth clients through dedicated account managers and offers tools for tax reporting and portfolio analytics. River Financial holds regulatory licenses in multiple U.S. states and partners with custodians like BitGo for asset protection. | Justin SunMaelstrom+1 | $12M | - | Undisclosed stage | |
Feb-26 | Sidekick | | Sidekick is a wealth management platform granting retail investors access to alternative assets including private equity, venture capital, real estate, stocks, and cryptocurrencies. Clients borrow against portfolio holdings via integrated credit lines and receive performance reports from dedicated advisors. The service curates editorial content on portfolio construction and market trends. | 1818 Venture CapitalBlackWood Ventures+8 | $11M | - | Series A | |
Mar-26 | QFEX | | QFEX is a London-headquartered cryptocurrency exchange offering 24/7 trading of US equities, commodities, forex pairs, and perpetual futures with leverage up to 100x. The brokerless platform supports seamless fiat on-ramps through bank transfers and cards, emphasizing low fees and high-speed execution. Founded in 2022 by alumni from Citadel and Tower Research, QFEX targets retail and institutional traders globally, handling millions in daily volume across 50+ asset classes from its Seychelles-regulated entity. | 468 CapitalGeneral Catalyst+6 | $9.5M | $95M | Seed | |
Feb-26 | InvestSky |  | InvestSky is a Dubai-headquartered social investing platform regulated by the Dubai Financial Services Authority. Launched in 2021, it allows users in the GCC region to trade over 5,000 U.S. stocks and ETFs commission-free starting from $1 minimums. The app connects investors for idea sharing, delivers market insights via advanced analytics, and simplifies decision-making through intuitive tools tailored for younger demographics. | Al-Romaizan Family OfficeEmkan Capital+2 | $4.0M | - | Seed | |
Dec-25 | Tabadulat | | Tabadulat is a pre-launch digital brokerage platform offering Shariah-compliant trading of over 60,000 halal stocks from U.S., Europe, and Asia. Regulated under AAOIFI standards with oversight from scholars at Al-Azhar University, it features fractional shares starting at $1, AI-driven market analytics, and fees from 0.25 percent. Users access a Zakat calculator and real-time compliance dashboards via its Bahrain-headquartered app. | - | $1.0M | - | Pre-seed | |
Dec-25 | Musaffa | | Musaffa is a Lyndhurst, New Jersey-headquartered platform for Shariah-compliant stock trading, ETFs, and Islamic finance education. Founded in 2020, it screens over 10,000 U.S. equities for compliance with Islamic principles, enabling halal investing for global users. The app combines brokerage services with courses on riba-free assets and sukuk bonds. | - | $300K | - | Seed | |
Dec-25 | Translate Stocks | | Translate Stocks is a Chicago-based fintech firm building AI infrastructure for futures and equities trading. Its autonomous agents analyze price flows, execute trades, and adapt strategies in real-time for institutional clients. The platform supports CME and NYSE integrations with assisted or fully automated modes. Launched in 2023, it serves hedge funds and prop trading desks. | - | $100K | $25M | Seed | |
May-26 | MochaTrade | | MochaTrade is a mobile-first fintech platform for global retail investors from emerging markets. Users trade leveraged perpetual futures on US stocks, indices, and commodities such as Apple, Tesla, S&P 500, and gold with 24/7 access, real-time settlement, and up to 20× leverage absent a traditional US brokerage. | Pioneer FundY Combinator | - | - | Pre-seed | |
Feb-26 | Green Pips Trading | | Green Pips Trading operates a UK-based fintech platform revolutionizing retail prop trading through instant-funded accounts, challenge-based evaluations offering full profit splits, automated 24-hour payouts, and clear max-loss rules in a simulated environment powered by One Trader. It supports traders with scaling plans, educational courses, tournaments, technical tools, and community engagement via Discord and newsletters. | LvlUp Ventures | - | - | Pre-seed | |
Feb-26 | TR8DE.AI | | TR8DE.AI offers a non-custodial fintech trading interface aggregating multiple exchanges. Its AI agents deliver execution optimization, market analytics, and hedging tools within secure user parameters. | Arcanum Capital | - | - | Seed |
VC investors active in online brokers
Y Combinator is the most active VC investor across online brokers, having invested in 4 startups in the last three years.
See all online brokers VCs| Logo | HQ | Description | Key portfolio | |||
|---|---|---|---|---|---|---|
Y Combinator | | Y Combinator is a San Francisco-headquartered startup accelerator that funds and mentors early-stage technology companies across sectors like software, biotechnology, and fintech. Since its inception in 2005, it has propelled alumni including Airbnb, Dropbox, and Stripe through intensive three-month programs featuring Demo Days and investor networks. | MochaTradeQFEXThndr+2 | 4 | Pre-seed | |
Hashed | | Hashed is a Seoul- and San Francisco-headquartered venture capital firm investing in blockchain and cryptocurrency projects. It manages the largest crypto fund in South Korea and supports portfolio companies through Hashed Lounge meetups, Hashed Post blog, and Hashed Night conferences. Notable investments include Solana and Flow, with a focus on Web3 infrastructure and DeFi protocols. | Merkle TradebboxSaros Finance+2 | 4 | Seed | |
HSG |  | HSG is a venture capital and private equity firm with offices in Hong Kong, Shanghai, Beijing, Shenzhen, London, Tokyo, and Singapore. Formerly Sequoia Capital China and founded in 2005, the firm invests in technology, healthcare, and consumer companies at seed, growth, buyout, and public equity stages. HSG supports portfolio firms through an entrepreneurial network and has seen numerous investments reach public listings worldwide. | KrakenMidasFull-Life Technologies+2 | 3 | Undisclosed stage | |
Accel | | Accel is a Palo Alto-headquartered venture capital firm investing in early and growth-stage technology companies globally. The firm backs founders in software, consumer internet, and mobile sectors with portfolio companies including Facebook, Slack, Dropbox, and Spotify. Operating funds across the US, Europe, and India since 1983, it supports over 1,000 startups. | SahiPublicViktor.com+2 | 3 | Series A | |
FasterCapital | | FasterCapital is an online incubator and accelerator connecting startups worldwide with angel investors, VCs, and micro-VCs through equity-for-services models in technical development and business growth. The platform offers mentorship, pitch deck reviews, and funding matchmaking for over 10,000 entrepreneurs annually. FasterCapital facilitates deals in sectors like fintech, healthtech, and edtech from its global network. | LiizorBlackBull MarketsLCY INVEST+2 | 3 | Seed | |
Tribe Capital | | Tribe Capital is a venture capital firm specializing in data science-driven investments across venture and cryptocurrency sectors. San Francisco-based, the firm employs artificial intelligence models to underwrite private companies and predict growth trajectories. Notable portfolio companies include Apollo.io, Carta, Docker, Kraken, Instabase, Relativity Space, and Shiprocket. Tribe Capital's quantitative tools, such as product-market fit metrics, support portfolio firms in accelerating expansion. The team draws expertise from Lyft, Yahoo, Facebook, and Bridgewater Associates. | KrakenAether BioKuku FM+1 | 2 | Undisclosed stage | |
Elevation Capital | | Elevation Capital is an early-stage venture capital firm investing in consumer internet, enterprise software, logistics, and B2B marketplaces. Formerly SAIF Partners India, it manages over $2.5 billion across funds and has backed companies like Meesho, ShareChat, and Unacademy. Headquartered in Gurugram, India, the firm leads seed to Series B rounds with average investments of $10 million to $50 million in high-growth startups across Southeast Asia. | SahiNoonAtlys+1 | 2 | Series A | |
Oppenheimer Holdings | | Oppenheimer Holdings Inc conducts activities in the securities industry. The company is involved in retail securities brokerage, investment banking (both corporate and public finance), institutional sales and trading, market-making, research, trust services, and investment advisory and asset management services. The company has two segments: Wealth Management, and Capital Markets. IT generates maximum revenue from Wealth Management Segment which includes commissions and fee income earned on assets under management (AUM), net interest earnings on client margin loans and cash balances, fees from money market funds, custodian fees and other activities. The company generates the majority of its revenue from the Americas, with the rest from Europe, the Middle East, and Asia. | KrakenPerspectumRed Rover+1 | 2 | Undisclosed stage | |
Jane Street | | Jane Street is a New York-headquartered proprietary trading firm specializing in market-making and liquidity provision across equities, bonds, options, exchange-traded funds, and other asset classes. The firm conducts trades on more than 200 electronic venues spanning 45 countries. Jane Street employs functional programming languages such as OCaml alongside machine learning techniques and field-programmable gate arrays for its trading infrastructure. Founded in 2000, the company operates offices in New York, London, Hong Kong, Amsterdam, and Chicago. | KrakenNscaleMatX+2 | 2 | Undisclosed stage | |
General Catalyst | | General Catalyst invests in early-stage to growth companies across healthcare, fintech, enterprise software, and consumer sectors from offices in Cambridge, San Francisco, and New York. The firm manages over $25 billion in assets, backing unicorns like Airbnb, Stripe, and Canva. It supports applied AI initiatives through dedicated funds and provides operational expertise via its Resilience platform. | QFEXAfterHourAmphiform+2 | 2 | Seed |
Founders and investors we've worked with
We've supported winning builders across online brokers and beyond.
Orka
We advised Elysian Fields on its investment into Orka, a Reykjavik-based portfolio of online consumer lending platforms, supporting deal structuring and growth-capital deployment in the Icelandic fintech market.
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Krita
We advised Swiss investor Elysian Fields on its growth investment into Krita, the leading factoring platform in the Icelandic market.
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GoTrendier
We advised GoTrendier, the leading second-hand fashion marketplace in LatAm (Mexico and Colombia), on its $14m Series B fundraise led by IDB.
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Ziik
We acted as fundraising advisor to Ziik, a Copenhagen-based all-in-one social intranet and internal communication SaaS platform, on its growth funding round.
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Sentryc
We led the capital raising process for Sentryc, a Berlin-based AI-driven brand protection and IP software provider, on its growth round led by Seventure Partners.
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See our VC fundraising experience across online brokers and beyond.
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