AfterHour Announces $4.5M Seed to Bring Credibility and Fun to Financial Trading

Gunderson Dettmer represented client AfterHour, a social trading startup, in its $4.5 million Seed financing led by Founders Fund and General Catalyst. AfterHour offers a social network focused on verified portfolios and increasing alpha through social intelligence, enabling customers to increase wealth through financial entertainment. The new capital will be used to build the ultimate financial community platform for the Internet generation.

In the announcement of the transaction, it states, “Right now, Kevin Xu, founder of AfterHour, says he’s trying to fill a gap, and it’s a gap that’s both generational and informational. If you’re a day-trading Redditor, you probably aren’t interested in a traditional financial advisor. “There’s this kind of big hole in the middle,” Xu told Fortune. “I’m hoping AfterHour fits that hole for someone, for something that talks to you, and is moving at the speed of the markets, but is also credible…I’m about bringing credibility, transparency, trust, fun, and nativeness back to this space.”

The Gunderson Dettmer deal team was led by Joe McGinley and included Trevor Knapp.

Companies
AfterHour
Founders Fund
General Catalyst