Covestor
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|
| Private | |
| Industry | Investment management |
| Founded | 2006 |
| Headquarters | Boston, Massachusetts, U.S. |
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Key people
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Rikki Tahta, Founder Perry Blacher, Founder Simon Veingard, Founder Asheesh Advani, Chief Executive Officer |
| Revenue | N/A |
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Number of employees
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25-30 |
| Website | http://covestor.com |
Covestor is an online investment management platform that allows you to mirror the real trades of successful individual or Professional Investors. Launched in June 2007, it provides everyday investors access to a managed account service, previously only available to those with millions of dollars invested with a wealth management firm.
Over 500 million US dollars in securities are shared through the service, and the site has replicated 100 million US dollars' worth in trades. Its members are located in more than 100 countries and hold positions in over 10,000 different securities. All securities in mirroring accounts are purchased in the client's name and held in custody at an independent broker-dealer.
Covestor raised $6.5m in April 2008, in a round led by Union Square Ventures, Spark Capital, and Amadeus Capital Partners. Other investors include private investors from the financial markets in New York and London, and Independent News & Media, whose CEO Sir Anthony O'Reilly was formerly a board member of the NYSE. In June 2013, Covestor raised an additional $12.75 million in a Series B financing round, bringing the total capital Covestor has raised to $28 million.
Covestor has been widely covered in the press, including The Wall Street Journal, Barron's, Reuters and Business Week.
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Wikipedia