Tastytrade Raises $20M In New Funding, Wants To Help 'Change The World' Of Investing

Tastytrade, a financial network that offers eight hours of live programming, raised $20 million in new funding from TCV, a leading Silicon Valley-based provider of growth capital, to help "change the world" of finance.

What Happened

Tastytrade describes itself as the "fastest growing Financial Network in the galaxy" and will use its new capital to "challenge the traditional financial models and products" that are geared towards self-directed investors, the company said in Thursday's press release. It's dedicated towards empowering the "everyday investor" with free and compelling video content with the objective of going "much deeper than most large institutions are willing to go."

Tastytrade Live, for example, is an options education-focused show hosted by two former floor traders. The hosts go through viewer emails and even offer commentary on trades they made which didn't work out

Why It's Important

The first step in changing the world of finance is "changing the way people think about strategic active investing," Tastytrade co-CEO and chairman Tom Sosnoff said in the release. The company won't be working on its mission alone as it's backed by TCV, a long-term supporter that shares a similar vision and mission.

What's Next

"TCV's mission is to invest in exceptional management teams who are reshaping industries and are innovators willing to disrupt even their own business models," said Jake Reynolds, general partner at TCV. "We're supporting a team that we believe has and can continue to transform the way self-directed investors interact with trading technology, financial media and new products."

Related Links:

Cerebri AI's $5M Funding Round Led By Microsoft Venture Fund

Trader-Based Social Network TradingView Raises $37 Million In Series B Funding