Dub, a copy trading app that enables users to mimic the portfolio strategies of notable investors, has raised $30 million in funding.
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The Series A round was co-led by Notable Capital and Neo, and participation from Sandberg Bernthal Venture Partners, Peak6 Strategic Capital, and Correlation Ventures. It also includes a $5.5 million venture debt facility provided by Silicon Valley Bank.
Emerging from stealth a year ago, dub has now passed the million download mark for its creator-driven marketplace for retail investing.
The platform lets users shift from stock picking to people selection, paying $89.99 a year or $9.99 a month to copy with a single click the investment portfolios of everyone from Federal Reserve Chair Jerome Powell to Nancy Pelosi to billionaire hedge fund manager Bill Ackman.
Users can choose to make their portfolios public as creators as long as they have at least $1000 invested. In exchange for sharing their strategies they receive royalties.
Dub argue that its model simplifies investing and reduces the skill barrier to participation, empowering a new generation to participate in the markets.
Steven Wang, CEO, dub, says: “As the largest wealth transfer in history takes place, younger investors face unprecedented exposure to risky financial products and questionable investment advice from social media, with almost 40% of young investors relying on platforms like YouTube or TikTok for financial guidance.
“Rather than fighting this trend, dub embraces it by curating a transparent, educated marketplace where anyone can easily invest alongside portfolio strategies built by investors with track records or share their own.”
