Investing is a smart way to make your money grow while you're not using it. But getting your feet wet in the stock market can be a daunting prospect, especially when your hard-earned cash on the line.
That entire process can be unapproachable for the everyday investor, but the Chicago start-up dough wants to make investing easier. And on Tuesday they announced a $20 million funding round.
dough's app is equal parts trading platform and learning platform. Through the app, you can check the performance of your investments or make trades, or you can read aggregated news or peruse dough's original content. The company's content consists of videos and podcasts that can help investors catch up on what's happening in the market. The app also has a chat feature where you can get support from a live person.
In order to make its service accessible to the everyday investor, dough offers commission-free trading on listed stocks and ETFs, no account minimum and a transparent pricing model. dough charges $1/month for a monthly subscription, but the company is currently having a promotion where customers can sign up early to get one year for free. The company will start accepting customers in September.
“The days are numbered for bare-bones investing and wealth management platforms targeting the next generation of investors with slick promotions only to leave them high and dry when it comes to content, service, and functionality,” dough CEO Victor Jones said in a statement. “dough is going to elevate the level of competition.”
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