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Smart Singapore fintech app maker Call Levels raises $500k from 500 Startups
Singapore-based fintech app maker Call Levels Pte. Ltd. has raised pre-series A of $500,000 in a round led by 500 Startups that included financial market veterans Timothy Teo (ex-GIC and JP Morgan), Gracelyn Ho (ex-Morgan Stanley) and Koh Boon Hwee.
Founded in 2014, Call Levels offers a real-time financial monitoring and alert service designed to help traders monitor financial asset price movements via their mobile phones.
Shortlisted by Apps World’s 2015 Appsters Awards for Best Fintech App, the still young company is finding strong traction and usage with over 10,000 Call Levels (both the name of the company, and the action done on the app) created over the past 30 days with day-on-day growth of 21 percent and week-on-week growth of 35 percent.
Call Levels says that they are focused on getting its core feature right: reliable, real-time price alerts for professional traders that rely on the app to constantly monitor the prices and gain an edge in the financial markets.
The company also understands that traders are not all spritely millennials and aims to deliver a simple and user-friendly interface to penetrate the long tail of investors including those who belong to older generations.
“It’s simple and it works. This is why so many people use it. But the data they’re collecting is incredibly valuable when you think about it.” 500 Startups Managing Partner Khailee Ng said in a statement sent to SiliconANGLE.
Smart idea
The idea behind Call Levels may be somewhat niche, but it’s a smart idea catering to a good niche in the form of professional traders; at the moment the app is offered for free but later there will be paid value adds offered and who better to sell to than those who already have a lot of money to begin with.
Prior to the new round Call Levels had raised $140,000 in angel funding from angel investor and former JP Morgan executive Timothy Teo, and a number of private undisclosed hedge fund managers.
The company said it would use the new money to acquire users and increase their headcount with an intention to grow their penetration into other key financial markets such as New York, London and Hong Kong.
Image credit: Call Levels.
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