Financial chart provider TradingView has acquired US-based mobile trading technology developer TradeIt for an undisclosed amount, allowing financial services firm Citi’s strategic investment arm, Citi Ventures, to exit.
TradingView paid an amount that was less than $20m and in the ‘high teens’, sources close to the deal told TechCrunch.
Founded in 2014 as Trading Ticket, TradeIt provides a suite of products that enable retail brokers and wealth managers to access mobile apps and social networks used by their customers.
TradingView will extend the TradeIt ecosystem by creating new products such as account opening and proxy messaging delivery. TradeIt customers will also have access to TradingView’s charting and quote services.
Venture capital firm Valar Ventures led a $8m seed round for TradeIt in early 2017 that included Citi Ventures and VC firm Newfund. Citi Ventures and Valar Ventures had previously co-led a $4m round for the company in 2015.
Denis Globa, founder and chief executive of TradingView, said: “TradeIt’s secure and compliant relationships with established US retail brokerages, coupled with their robust integrations with top investing apps, allows TradingView to be part of the backbone of the investing ecosystem.”