Spiking aims to help the average trader follow the reputable investors and make an informed decision when buying anding sell shares on the stock market
Spiking, a hybrid platform that will track transactions by significant shareholders of public-listed companies in both the stock and cryptocurrency markets, has secured an additional S$1.2 million (approx. US$875,000) to close its pre-Series A funding round at $S2.23 million (US$1.63 million).
Key investors in in the round include Julian Chesser, Managing Director (Financial Markets, Singapore) at IHS Markit; Carl Wang, General Manager, Eyougame; and Lisa Theng, Managing Partner, Colin Ng & Partners.
According to Dr Clemen Chiang, CEO of Spiking, which is owned and operated by Singapore-based startup Aly Pte. Ltd: “With this fresh injection of capital, we will demonstrate user growth and focus on driving revenues with new monetisation channels. This will lay the foundation for the subsequent Series A funding round.”
Launched in April 2016, the Spiking app aims to help the average trader follow the reputable investors as they buy and sell shares on the stock market. The app will address questions like how traders verify data on whales, their sentiments, and how to collect and verify such data, and when to buy or sell.
Currently, it tracks over 170,000 significant shareholders across six stock exchanges in four countries: the US (NYSE, NASDAQ, AMEX), Singapore (SGX), Malaysia (BM), and Hong-Kong (HKEX).
“When I read reports from various sources…the doubt is always lingering in my mind — is this gossip, rumour or speculation? Why don’t I track the real guy who puts the money on the table? Spiking connects the dots by knowing, and learning from the ones who make a difference,” Chiang added. “We will be the world’s first blockchain Asset Validation and Artificial Intelligence-driven crypto trading infrastructure.”
Spiking’s expansion into the blockchain space with Spiking Crypto to track transactions by the cryptocurrency whales is a strategic move to expand the product array from stocks to cryptocurrencies. It will launch with a list of 1,000 cryptocurrency whales in Q2, 2019.
The startup has previously received support from Quest Ventures and National Research Foundation, Singapore Prime Minister’s Office under the Interactive & Digital Media Strategic Research Programme’s i.JAM Reload initiative.
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