Lightyear – A Commission Free Stock Trading Platform For Newbie Investors
Lightyear is a promising start-up offering a new stock trading platform that caters to newbie investors. It is a London-based company that has recently caught the attention of investors.
The start-up aims to stand out by offering a stock market trading application with the sole objective of creating a single, commission-free mobile application. As a result, their app, Lightyear, is now known as a reliable app to completely remove account fees, trading fees, and currency exchange fees, at least up to a point.
Light year indicated on their website that their platform provides a simple and accessible method to invest money globally without the burden of unnecessary additional fees and hurdles.
For a very long time, the stock market has been needlessly unfair to investors. They always get the shortest part of the stick, which leads to bankruptcy in the worst case. With limited access to the market and the addition of excessively high fees, ordinary investors are at a disadvantage every day.
Lightyear mentioned that they are now here to change the broken system.
With the help of Lightyear, even newbie investors can use the app according to their own beliefs and strategies.
According to Yahoo, the company is founded by two people: Martin Sokk, co-founder and CEO, and Mihkel Aamer, co-founder and CTO. Its original name was TransferWise (now known as Wise), which means the company’s goal is to offer a smart way to invest from the start.
Sokk has experience in many roles such as Chief of Staff, Product Manager and Chief Operating Officer. On the other hand, Aamer was the head of engineering at Wise between 2013 and 2019.
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In the same report, Sokk said in a statement that he has already seen the good, bad and bad about finance. He mentioned that the retail investment system in Europe is on the “ugly” side – with underhanded fees, reduced access and unnecessarily complicated products as some of the main features of the market.
With this, he said that they are now creating something that will drive change within the industry in the sense that investing could be open to everyone. With their new Lightyear app, regular investors can invest in the global market they prefer, and they can do it their way.
What’s next for Éclair?
The Lightyear app is not ready for public use, but future investors can get on their waiting list. According to recent reports, the app will roll out in the third quarter of 2021, which means it’s just around the corner.
So far, Lightyear has already raised a total of $ 1.5 million in pre-seed funding in partnership with an anonymous finance company co-founded by Teleport co-founder Sten Tamkivi and co-founder of Wise Taavet Hinrikus.
Lightyear is also set to compete with older brokers to expand its reach. For this space, there will be enough room to accommodate more than one business.
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Written by Fran Sanders
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