Stereo Scope, the parent company of KAPITALL, a New York City-based company that develops an innovative investing application, closed a Series A financing.
KAPITALL raised $7.3m in new cash and converted more than $5.5m of previously issued promissory notes.
KAPITALL intends to use the funds to roll out new developments and make new enhancements.
In conjunction with the funding, Bendigo Partners’ Jarrett Lilien and ES & Partner Ventures’ Roy A. Ellis have joined the company’s board of directors.
Founded in 2008 by a team of designers, producers and developers from Apple, Bloomberg, Morgan Stanley, Pearson and Electronic Arts, KAPITALL has developed an application aimed at facilitating research and trade of stocks. It also allows experienced and novice individual investors to learn the market via a video game inspired interface aw well as test new investment strategies.
The company’s offerings include analytical tools, live trading and integration with Facebook to make online investing more social.