Investing App Dub Secures $30M Series A, Empowering Gen Z to Mirror Expert Traders
Dub, the copy-trading platform that claims to be revolutionizing how Gen Z invests, has secured a significant $30 million Series A funding round. This latest investment brings the company's total capital raised to $47 million, a notable achievement just one year after its official launch in June 2022. Founder Steven Wang, a 23-year-old former Harvard student, has seen his platform grow rapidly, now boasting over 1 million downloads. Dub allows users to replicate the investment strategies of successful traders, offering a feature often reserved for the ultra-wealthy. “Historically, the ultra-wealthy have had access to expert money managers," Wang said in a press release. "Now, Dub is leveling the playing field by providing the same advantages to everyday investors.” Wang's background in finance is quite impressive; he began making investments as early as second grade and has since brought his expertise to bear on this innovative platform. For a monthly subscription fee of $10, users can follow and mimic the trading activities of influential figures, including high-profile politicians like Nancy Pelosi. This feature has garnered significant attention and contributed to the app's rapid rise in popularity. The Series A funding round was co-led by Notable Capital and Neo, both prominent investors in the tech space. Additional participants include Sandberg Bernthal Venture Partners, Peak6 Strategic Capital, and Correlation Ventures. The funding package is further bolstered by a $5.5 million venture debt facility from Silicon Valley Bank. This influx of capital will enable Dub to expand its user base and develop new features, solidifying its position as a leading player in the financial technology sector. With a young, passionate founder at the helm and a growing community of engaged users, Dub is well-positioned to continue disrupting the traditional investment landscape.
