Stockholm-based startup Quartr raises $2.6 million in extended seed round where it receives backing from Flat Capital, Klarna CEO’s Investment Firm. The extention round was led by the Öhman Group and joined by Centripetal Capital, Michael Batnick, Josh Brown, and Barry Ritholtz. The Swedish startup’s founding team met through Twitter’s financial community #FinTwit, and founded the company before everybody had met in real life to function as a bridge between publicly traded companies and stakeholders. Quartr is planning to use the funding to develop B2C app and a B2B desktop solution and also expand its team.
Quartr Extends its Seed Round to $7.1M To Transform Investor Relations for both Investors and Companies
At a time of major market turbulence, during which access to company information is more important than ever, Quartr enables investors to make smarter decisions, while providing publicly listed companies with unrivalled investor insights.
Quartr, the app that gives anyone, regardless of their investment expertise and network, access to critical company information and earnings calls, has raised a $2.6M extended seed round, taking its total seed round to $7.1M.
The round was led by existing investors The Öhman Group, with participation from Flat Capital (the investment firm of Klarna CEO Sebastian Siemiatkowski) and Centripetal Capital, in addition to existing investors Michael Batnick, Josh Brown, and Barry Ritholtz. Quartr joins renowned names like Klarna, Discord, Budbee, and Getir on Flat Capital’s investment portfolio.
Employing a team of 42 people, Quartr will use the funding to scale its development team and additional products, including a B2C app and a B2B desktop solution, as it continues to grow globally.
Used by both investors and companies, the Quartr app is available for free on iOS and Android and has over 2,500,000 played events from over 5,500 companies in 19 markets. Users can access company information – such as earnings calls, investor presentations, PDFs of the transcripts, and earnings reports – from the likes of Apple, Meta, Spotify, Moderna, as well as all other publicly listed companies. Rather than the traditional method of dialling in live to discover company information, all data can now be found within a few clicks.
With more than 300,000 downloads in over 160 countries in its first year, Quartr is a primary digital source of investment information that enables investors to make smarter decisions. Quartr recently launched a “Search For Anything” feature, where all company transcripts worldwide on the platform are included in the same search engine, timestamped to audio so users can scroll to key moments.
The funding comes as Quartr rolls out its latest feature; Insights, which uses data from S&P Global to provide valuable but often inaccessible company data, including analyst estimates and financials.
Investors use company events like earnings calls to gain insights into potential investments, but accessing relevant information has traditionally been time-consuming, expensive, and analogue, with some companies not even offering recordings of live calls.
Analysts and experts already use Quartr’s app at prestigious financial institutions including BlackRock, Bank of America, Morgan Stanley, Carnegie, EQT, Fidelity, Credit Suisse, Kinnevik, HSBC, Goldman Sachs, UBS, and JP Morgan.
Quartr enables publicly listed companies to distribute information globally and reach a wider audience while delivering insights and data. With Quartr’s productivity tools, companies can stay up to date with the entire global financial market searchable. By solving the most pressing problems and owning the distribution scale, Quartr will be the new home of investor communication.
Partnering with companies like US vaccine pioneer Moderna, Swedish mobile gaming giant LeoVegas and German unicorn Westwing, Quartr’s recently launched Embedded Player allows companies to include their presentations on websites, articles, and blog posts.
“By being able to access any company call, document, or other data points within a few seconds, we are seeing a considerable proportion of institutional investors signing up on Quartr as their new go-to-place on mobile. And owning the scale of distribution will make Quartr the new home of company communication, with millions of investors researching companies every day”, comments Sami Osman, Quartr CEO and Co-founder.
“We are proud to introduce the participation of several high-profile investors who all started as Quartr users. Although the consumer value proposition is somewhat proven by attracting more than 300,000 users in our first year – many IR managers and consultants are now seeing what we’re building for companies and want to invest. With product leading our growth, this capital will almost exclusively go towards recruitment of tech talent to serve the problems our customers are experiencing. With so many trillions of dollars circulating in the financial industry, it’s fascinating to see how far left behind the user experience of some existing tools still are.”
Johan Malm, CEO at The Öhman Group, adds: “Quartr is revolutionizing the investment process at both ends, reshaping the communications and decision-making of both companies and investors. The company is providing a truly unique service to the investment world, and it’s been exciting to be a part of it. We have been so impressed with their growth and leadership so far and are delighted to continue our journey with them.”
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