StockRadars in partnership with Globlex Securities

Thai financial-technology start-up StockRadars has announced bridge-round fundraising from CyberAgent Ventures and others, and says it has partnered with Globlex Securities to allow investors to trade via the StockRadars app instantly.

Teerachart Kortrakul, chief executive officer and co-founder of StockRadars, said the partnership with Globlex Securities would allow traders who have accounts with Globlex to do real-time trading via the StockRadars app. 

StockRadars aims to have a majority share in online trading within a couple of years. Currently, it has 350,000 members, around 50,000 of whom are active, which means they account for 20 per cent of the total 250,000 active online traders in Thailand. 

Teerachart said the Globlex partnership was a big move for StockRadars, which has built up “a solid business model generating a solid revenue stream” since its launch two and a half years ago. 

StockRadars charges Globlex Securities Bt5,000 per trader per year. 

In Thailand, there are around 35 brokers, mostly medium-size. StockRadars targets small and medium-sized of brokers and to gain three more broker partners this year. 

Around 60 per cent of Thai traders still go through brokers. However, online trading accounts increased from 43 per cent of the total in 2011 to 80 per cent last year. 

“We also target new customers. In Thailand, 4 million to 5 million people trade through trading funds, which is 10 times [the number doing] online trading,” Teerachart said.

StockRadars also announced an undisclosed amount of investment through bridge-round fundraising from its existing investor and a new group. The money will be spent to expand its marketing teams, since it is expanding into Japan, mainland China, Hong Kong, India, New Zealand, Taiwan, South Korea and Singapore. 

Teerachart said that for now, StockRadars would provide only stock information in those overseas markets, but it plans to expand into online real-time trading services via the StockRadars app in some countries next year. 

It also plans a Series A round of fundraising sometime in 2017. 

StockRadars appeals to consumers who think stock trading is difficult. It is designed as a tool for investors to simplify their trading. 

Its business model is the “freemium” model: the app is free with an option of in-app purchase for more advanced features. It charges users about Bt5,000 per year.