Singapore-based fintech startup Call Levels, that provides real-time financial monitoring and alert services, which are designed to help traders monitor financial assets price movements easily on mobile, Tuesday announced it had close a pre-series A round led by 500 Startups.
A consortium of angel investors also joined the round, including industry veterans such as Timothy Teo (ex-GIC and JP Morgan), Gracelyn Ho (ex-Morgan Stanley) and Koh Boon Hwee, the company said.
Call Levels did not disclose the amount it had raised, and DEALSTREETASIA understands it is around the $500,000 mark.
This also marks the latest in a series of fintech deals from Singapore, and comes even as the city-state has committed S$225 million ($166.48 million) over the next five years, to growing the fintech segment of the startup ecosystem here.
The startup said it had recorded strong traction and usage especially in light of current volatile markets, and added that close to 10,000 Call Levels had been created over the past 30 days, with day-on-day growth of 21% and week-on-week growth of 35%.
Call Levels’ extremely simple and user friendly interface on mobile has helped penetrate the longer tail of investors, including the older generation, and this led veterans like Timothy Teo, who spent 40 years in financial markets across JP Morgan and GIC to invest, the company whose services are available to download free on iOS, Android and Apple Watch, added in its statement.
Its co-founders, Daniel Chia and Cynthia Siantar also said the start-up would use the proceeds to aggressively expand out of Singapore, to markets such as New York, London and Hong Kong in the next few months, even as it seeks to hire additional talents for the team.
“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.” says Khailee Ng of 500 Startups who will be working closely with the co-founders to reach the milestones.
Call Levels further said it had secured a major partnership with a financial institution in Singapore, but did not divulge details.
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