Huddlestock , the Level39 crowd investment platform from Oslo, has signed its first institutional client, the Icelandic Pension Fund, Sparnaður, based in Reykjavik.
Huddlestock, who joined Level39 following the Innovation Norway programme, is currently operating in beta mode, but the platform is currently trading with more than 700 clients.
It’s unique model allows traders to invest directly into other investment ideas – the next phase of development will allow for ‘huddles‘ – collaboration between the clients in the form of virtual funds, along with a mobile app.
“That we’re being taken seriously by institutional clients is a big step forward for a small company like ours. It shows that our value proposal rings true and that fintech companies are being considered as viable alternatives to the incumbents.”
“Together with Sparnaður we’ll be looking to setup the first huddles on the platform which will help them reach a global audience while directly benefiting their clients,” says Chief Investment Officer, Michel van Tol.