Brokerage Charles Schwab acquired Motif Investing, the US-based operator of an online stock trading portal operator, for an undisclosed amount on Tuesday, allowing social media company Renren to exit.
Founded in 2010, Motif has developed an online broker-dealer service aimed at individual and institutional investors.
The company caters to thematic investing, which covers long-term trends such as environmental technology, artificial intelligence, healthcare and biotechnology, and personalised investments including tax-efficient strategies.
Renren provided $40m in series E funding for Motif in 2015 to push its overall funding to $126m. It came after $35m in series D funding from investment bank JP Morgan Chase, Balderton Capital, Wicklow Capital and existing backers Goldman Sachs, Norwest Venture Partners, Foundation Capital and Ignition Partners in 2014.
