Stock trading and financial management platform 8 Securities has closed a $9 million Series B to support its expansion in Japan and China. Returning investors include Velocity Capital and Leitmotiv Private Equity.
CEO Mikaal Abdulla says that the funds will be used to advertise 8 Capital’s new products, including its new Auto Portfolio and Social Trading products. In addition, 8 Securities, which is based in Tokyo and Hong Kong, also plans to enter mainland China this year.
Auto Portfolio, 8 Securities’ latest launch, is is meant to give investors access to a professionally managed global portfolio by providing a low-cost alternative to traditional financial investors, asset management firms, or private banks.
The product will be mobile-based to appeal to younger customers, who take a short survey to assess their investment needs, and then are presented with an automatically-generated portfolio of up to 16 global exchange traded funds. 8 Securities’ users can then pick the amount the want to invest and check how its performing on their smartphones or tablets. 8 Securities’ charges 0.5% of the portfolio’s average annual value, without additional fees or commissions.
8 Securities was a TechCrunch Disrupt Beijing 2011 finalist and currently manages over $750 million in customer assets.