Bengaluru-based algorithmic trading platform Streak.tech has raised ₹7 crores in Pre-Series A funding from 3one4 Capital and existing investor Rainmatter Capital. The startup plans to use the funds to expand its team, develop a product roadmap and diversify its customer base.
Founded by Harsha Manohar, Vipul Divyanshu and Jayalakshmi Manohar in 2017, the subscription-based platform helps retail investors to validate their trading strategies and implement the strategies in the stock markets. The platform is integrated with trading platform Zerodha. Steak.tech is already in talks with some of the biggest players in the trading industry to integrate the services within the platform.
Manohar said, “Usually algorithmic trading solutions are built in isolation and thus do not have the smooth user experience that we are able to offer because of our deep integration with a trading platform like Zerodha.”
The startup has acquired more than 1,50,000 users within a year of its inception. More than 1.3 crore strategies are being run and handled on its proprietary platform. The users have generated a transaction value of over ₹2,100 crores using the platform. Steak.tech raised ₹2.45 crores from Rainmatter Capital in 2017.
Founding partner of 3one4 Capital, Pranav Pai said, “With a rush of retail investors into the financial markets, the need is to empower every individual investor with the tools to generate optimal returns. The Streak team has utilized their deep product experience to bring institutional-grade strategy development to the everyday investor.”
The platform enables retail investors to leverage backtesting, swift strategy deployment, and real-time analysis to generate disproportionate returns. It helps users to keep track of securities including stocks and futures in NSE, currencies and more than 2,500 MCX commodities.