Global fintech leader completes industry’s first system-wide immutable platform for scalable, low-cost cross-border investing
San Francisco, CA: Parkside, a leading global fintech platform providing digital trading and clearing solutions for traditional brokerages and digital bank partners, today announced completion of its $24 million Series A financing. Shanghai, China-based Enlight Growth Partners (“EGP”) led the round including existing investors Mubadala Capital, FinTech Collective and Colle Capital, and new investors Peak6 Investments and Entrée Capital. Parkside will continue expanding its technology and brokerage services in support of its 2021 growth plans.
“We’ve built an immutable, low-cost digital platform to unlock access for Millennial and Gen Z investors everywhere,” explains Parkside Founder & CEO Barry Schneider. “Our core principle is all investors deserve best execution. Imagine the simplicity and affordability of investing as little as $1 in any US stock, ETF or ADR and receiving the same best execution as large investors. We’re able to offer this profound value proposition by deploying 40+ proprietary algorithms creating new efficiencies. We level the playing field for small investors.”
Perry Chui, Managing Partner for EGP says, “We’re excited to support a global vision that is both timely and powerful. Parkside has built a modern full-stack platform that empowers traditional brokerages, digital banks and SuperApp partners to offer existing accounts and new middle-class and mass affluent investors, from Asia and around the globe, simplified trading of US stocks with low-costs and no minimums.”
“Parkside is poised to disrupt and democratize retail investing on a global scale with its immutable, scalable infrastructure,” says Luke Nicklin, Director, Mubadala Ventures. “We’re excited about Parkside’s technology and low-cost differentiation, and the quality of its leadership team, and we look forward to supporting Parkside’s future growth capital needs,” Nicklin concludes.
Parkside is simplifying global access to US stocks through regulatory innovation and modern technology. Parkside is a registered US broker-dealer providing access to US stocks for individuals around the world – starting with Asia. Soon, you can invest globally using your local currency, low fees and no minimums. Learn more at https://www.parksidesecurities.com/.