A startup with $1 million in funding from the Draper Fisher Jurvetson Venture Fund has built an app that enables users to purchase stocks, bonds and more with the click of a button.
The startup, MVIS, will be releasing a $50 million round of funding to build a new app called SmartShares.
It is focused on making smart phones a more convenient and secure way to invest in the stocks and other financial products, the firm said in a blog post Wednesday.
SmartShares, which is a fully open source app for smart devices that uses blockchain technology to track stock trades, has been a long-term goal for MVIS founder and CEO Mike Sussman.
The app lets users buy and sell stocks in a way that is convenient and accessible for people of all skill levels.
It was designed to be accessible to users, not just the tech savvy, Sussmen said.
It’s been a slow-and-steady process, but the first iteration of SmartShares was completed in March and is now available on the app store.
The project’s team of more than 30 people is working on the next major version.
MVIS is working with an investment firm and a tech startup to raise the money to develop the app.
MVS cofounder and CEO Matt McBride, who started the company as an undergraduate at UC Berkeley, said he has been impressed with how the startup has taken its technology to the next level.
“We’re building something that’s very accessible to everyone, not only the tech-savvy,” McBride said.
The app uses a blockchain-based database to track stocks, and smart phones can be used as a way to buy and market shares.
It has a user interface that is reminiscent of a stockbroker’s interface, but has a slick interface that can be configured for specific stock market types.
It’s a more secure, more convenient way to get to information.
In addition to smart phone users, the app can also be used for stocks in other areas.
The company is working to integrate the app into other financial platforms such as stockbrokers’ apps.MVIS plans to sell the app on its own website and on mobile apps that are being developed by its developer team.
The idea is to make SmartShares a much more convenient tool for the average investor and for people who want to manage their money on their phone.
“I think people are starting to understand the power of investing on their phones,” McBridens said.
“There are lots of ways to do it.
It really doesn’t matter if you’re a novice investor or a seasoned investor, this is a good way to make a quick and easy investment.”