EquaMetrics Inc., a New York-based financial technology firm, secured the final $2m tranche to close its $4.5m round of seed funding.
Backers included unnamed private angel investors.
The company intends to use the funds to expand infrastructure and operations, including broadening the development cycle, executive recruitment and marketing of its trading application, which was released in June after two years of development.
Founded by Chris Ivey, CEO, EquaMetrics provides RIZM, a visual programming tool with a simple drag and drop interface that enables traders to build, test and deploy complex algo-trading strategies without any knowledge of programming, coding or mathematics.
It supports equities, futures and FX trading, with live trading connections to Interactive Brokers and Forex Capital Markets (NYSE: FXCM).
The product is offered on a monthly subscription basis beginning at $99 a month with portfolio management and research features. The company also plans to add options and fixed income trading, along with live connections to all mainstream retail and institutional brokers.