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TradingView currently has about a 400% jump in created accounts and a 237% increase in visitors in the past 18 months.
TradingView, a company built to help in the tracking of diverse market data has secured $298 million in new funding as led by Tiger Global Management. According to the Finance Magnates, citing the company’s shared press release, the funding round has now placed the London-based firm at a $3 billion valuation, a unicorn status achieved by the growing popularity and usage of its platform.
“We’re excited to be partnering with Tiger Global. Their global fintech expertise and insights will contribute significantly to furthering TradingView’s vision of informed financial trading and investing for the world,” said Denis Globa, CEO, and co-founder of TradingView, “We built this company with the belief that people everywhere want the same thing: to be in control of their own economic futures. We work towards this by creating an environment where all traders and investors can Look first / Then leap.”
TradingView is a tool used by many investors, traders, analysts, and market observers to gain insights into the historic price action of various assets including digital currencies, commodities, and foreign exchange respectively. While the platform is open to all users for free, there is a subscription for premium service through which more detailed analytical and charting capabilities are permissible.
According to the company, it currently has about a 400% jump in created accounts and a 237% increase in visitors to the platform in the past 18 months. The platform has as many as 30 million monthly users, with paying customers in more than 180 countries.
TradingView Funding: Motivation for Investors
The abilities of both retail and institutional investors to bet on a particular digital currency are enhanced with the availability of sufficient historical data. Today, there are many platforms that offer this data management service, however, not all brandish as many exclusive features as TradingView’s platform.
The motivation for Tiger Global Management funding in TradingView stems from the firm’s potential amidst growing digital assets markets across the board.
“TradingView’s global reach, strong product offering, and engaged customer base positions the company to be the default social network and financial analysis platform used by all traders and investors. We’re looking forward to helping Denis and the team realize this ambition and expand the company’s market leadership position,” Alex Cook, Partner at Tiger Global said in the recent press release.
There has been a massive increase in the number of venture capital funding from outfits like Tiger Global. The company also participated in the $500 million funding of Coinbase Global Inc (NASDAQ: COIN) back in 2018 and has significantly backed a number of growth startups with digital currency-related products in recent times.