Commission-free investing app Lightyear raises $1.5 million

Investment platform Lightyear has secured $1.5 million in a pre-seed funding round, Finextra reports.

The round was led by Wise co-founder Taavet Hinrikus and Teleport co-founder Sten Tamkivi as part of its first portfolio investment of their partnership that invests in early-stage European startups.

Jason Tallinn, co-founder of Skype, Checkout.com CTO Ott Kaukver, Wander Rutgers and Kaarel Kotkas also joined the funding round as investors, TechCrunch reported.

European company Lightyear expects to roll out its platform in the third quarter of 2021, and aims to give unlimited access to global markets without hidden fees or charges, Finextra reports.

The company’s waiting list is officially open, and its founders, which are two early Wise employees, have promised to become Europe’s first “truly” commission-free investing platform. Lightyear will also eventually offer an MVP product that will have no trading fees and no accounts fees with access up to 1,500 global stocks and ETFs. In addition, there will be no FX fees up to £3000 per month with a 0.35% FX fee afterwards.

Lightyear Founder Martin Sokk said both he and Co-Founder Mihkel Aamer will use their Wise experience in currency conversion to “completely change the name of the game when it comes to investing.” Wise, formerly known as TransferWise, provides global money transfer services which allows individuals and businesses to send money overseas.

Lightyear will be competing with a number of other startups in the European market, such as Freetrade in the UK or Germany-based Trade Republic, which recently raised $900 million.

Latest Articles

2022 HousingWire TECH100 Real Estate Honorees HW+
Mar 11, 2022 By

This year’s list of TECH100 Real Estate honorees represent a huge shift in the direction that the real estate industry is heading in. Though real estate may have fallen behind in technological advances compared to other industries in the past, all of that is changing, and this year’s list of Tech100 winners embody that shift. […]

Content from our partners

Log In

Forgot Password?

Don't have an account? Please


Forgot Password

Please enter your registered email address below to receive a password reset link.

Check Your Email

A password reset email has been sent to the email address on file for your account, but may take several minutes to show up in your inbox. Please wait at least 10 minutes before attempting another reset.

Welcome to FinAssist

Go to your inbox and open 'Welcome to FinAssist, your company discovery platform' to get started. You may also skip your inbox and 'Start tutorial'.