Gunderson Dettmer represented Copenhagen-based client Pluto Markets, a neo-broker and trading company, in its $2.6 million Seed financing led by Magnetic. Pluto’s new investment app for friend groups enables investors to collaborate, compete, and co-invest powered by fractional shares zero-commission trading. The company plans to launch in Denmark as its first market, on July 1 this year and then plans to launch in a new market every six months, starting with the Nordics.

In the announcement of the transaction, Pluto Markets founder Joakim Bruchmann said, “We are a neo-broker building a NextGen investment experience to replace the 90’s incumbents who still charge high commissions, have a narrow asset offering and don’t cater to ordinary people without financial backgrounds.”

The Gunderson Dettmer deal team was led by Jared Mayberry and included Joe McGinley and Zack Goldman.

Companies
Pluto Markets
Magnetic