Gatsby aims to take on Robinhood by offering traders no commission trading, no per-contract fees, and “with no excessive jargon.” Beyond that, it also offers users a way to earn revenues from trade activity through a rewards program, or, as Myers puts it, “get paid to trade.” It also hosts a social network that can be a source for trade ideas or a place for Gatsby traders to share on their wins (or commiserate their losses). Millennials and Gen Zers seem interested in investing more than ever these days. As a result, a number of startups have emerged in recent years to give them more options. Backers include Techstars Ventures, Beta Bridge Capital, a network of “super angels” placed by ClearList, and an oversubscribed SeedInvest campaign. Previous investors include Barclays Bank, SWS Venture Capital, and Rosecliff Ventures. Jeff Myers and Ryan Belanger-Saleh co-founded Gatsby, commission-free options and stock-trading app aimed at younger traders, in 2018. The pair had already one successful exit in Dealtable.com, a social data room platform. Notably, Peter Quinn, a founder of stock-trading service Public.com which recently raised $220 million at a $1.2 billion valuation serves as Gatsby’s chief operations officer, and as the company’s first hire, is considered a member of its founding team. Besides focusing on a younger demographic, Gatsby aims to give people “a safe and fair platform to trade on without users having to worry about getting in over their heads or being shut out of names when volatility spikes.” The app launched into iOS and Android in early 2020, with the number of signups doubling since the beginning of 2021. Gatsby also plans to launch additional research tools for more sophisticated options traders, as well as more advanced strategies. Down the line, the startup is also planning to launch crypto-trading features.
Gatsby
