Chicago fintech company tastytrade has raised $20 million in a Series C funding round to help it grow its trading and investment media platform.
The funding round, announced Thursday, was led by TCV, a Silicon Valley-based venture capital firm that has provided more than $1.5 billion to fintech companies. tastytrade’s total funding now sits at nearly $60 million, according to the company, which has offices in the West Loop and employs 100 people.
“TCV’s mission is to invest in exceptional management teams who are reshaping industries and are innovators willing to disrupt even their own business models,” said Jake Reynolds, a general partner at TCV, in a statement. “We’re supporting a team that we believe has and can continue to transform the way self-directed investors interact with trading technology, financial media and new products.”
The startup, which was founded in 2011 by Co-CEO Tom Sosnoff, is a financial media company that offers free, accessible content about trading and finance for active investors. tastytrade produces eight hours of live, original programming every weekday that provides investment strategies, actionable trading ideas and more through a variety of shows.
The funding follows the launch of tastyworks in January 2017. The platform, which serves as a high-speed technology brokerage firm, allows investors to go from content to trading seamlessly. tastytrade also integrated Dough, its suite of options trading software and technology, into tastyworks.
“tastytrade continues to fight for and empower the everyday investor, providing free and engaging video content that empowers investors with actionable information they can apply every day,” said tastytrade’s Co-CEO and President Kristi Ross in a statement. “The overall tastytrade vision encompasses an offering that goes much deeper than most large institutions are willing to go.”
