Pluto.markets

About Pluto.markets

This mobile investment platform allows users to trade thousands of stocks, ETFs, and cryptocurrencies with zero commission on stock and ETF trades. The service simplifies investing by enabling fractional share purchases and automatically handling tax reporting, including minimizing dividend withholding tax. Users benefit from features like auto-invest for recurring savings plans and access to live market data without extra fees.

```xml <problem> European investors face challenges accessing the U.S. stock market due to commission fees, currency conversion costs, and complexities related to tax reporting and foreign regulations. Traditional investment platforms often lack transparency in their fee structures, eroding potential returns for investors seeking to diversify their portfolios with U.S. equities. </problem> <solution> Pluto provides a commission-free investment platform that simplifies access to the U.S. stock market for European investors. The platform enables users to trade over 4,000 U.S. and European stocks and ETFs, including fractional shares, without incurring currency conversion fees or hidden charges. Pluto streamlines tax reporting, minimizes dividend tax liabilities, and offers an auto-invest feature for automated stock savings, avoiding the complexities of ETF taxation. By offering live market prices, extended trading hours, and 24/7 customer support, Pluto aims to provide a seamless and cost-effective investment experience. The platform is regulated in Denmark and covered by the Deposit Guarantee Scheme, ensuring a secure investment environment. </solution> <features> - Commission-free trading on over 4,000 U.S. and European stocks and ETFs - Fractional share investing, allowing users to invest any amount they choose - Zero currency conversion fees for trading foreign stocks - Auto-invest feature for automated, tax-optimized stock savings - Real-time market data and extended trading hours - Integrated tax reporting to simplify tax obligations - Support for both market and limit orders - Mobile app available for iOS and Android </features> <target_audience> The primary target audience includes European retail investors, particularly those in Denmark, seeking cost-effective and simplified access to U.S. and European stock markets for portfolio diversification and wealth accumulation. </target_audience> <revenue_model> Pluto generates revenue through interest on customer cash balances, a 0.1% commission on extended-hours trading, a 2.5% fee on deposits via Apple/Google Pay exceeding 5,000 kr, and a 0.15% fee on currency exchange. Additional revenue streams are planned for shorting of stocks (0.25% commission), advanced trading modes (49 kr/month), and corporate accounts (179 kr/month). </revenue_model> ```

What does Pluto.markets do?

This mobile investment platform allows users to trade thousands of stocks, ETFs, and cryptocurrencies with zero commission on stock and ETF trades. The service simplifies investing by enabling fractional share purchases and automatically handling tax reporting, including minimizing dividend withholding tax. Users benefit from features like auto-invest for recurring savings plans and access to live market data without extra fees.

Where is Pluto.markets located?

Pluto.markets is based in Copenhagen, Denmark.

When was Pluto.markets founded?

Pluto.markets was founded in 2021.

How much funding has Pluto.markets raised?

Pluto.markets has raised $4.4M.

Who founded Pluto.markets?

Pluto.markets was founded by Fredrik Grothe-Eberhardt, Joakim Bruchmann and Steffen Frølund.

  • Fredrik Grothe-Eberhardt - Fintech Founder/Angel Investor
  • Joakim Bruchmann - CEO/co-founder
  • Steffen Frølund - Founder/Board Member/Chief Marketing Officer
Location
Copenhagen, Denmark
Founded
2021
Funding
$4.4M
Employees
10 employees
Investors
Eight CapitalGoodwater CapitalY Combinator

Pluto.markets

10
Relative Traction Score based on online presence metrics compared to companies in the same age group.

Executive Summary

This mobile investment platform allows users to trade thousands of stocks, ETFs, and cryptocurrencies with zero commission on stock and ETF trades. The service simplifies investing by enabling fractional share purchases and automatically handling tax reporting, including minimizing dividend withholding tax. Users benefit from features like auto-invest for recurring savings plans and access to live market data without extra fees.

pluto.markets1K+
Founded 2021 – Copenhagen, Denmark

Funding

No specific funding rounds found.

Total Funding

$4.4M

Backed by

Y CombinatorEight CapitalGoodwater CapitalMagnetic CapitalNordic Makers

Team (10+)

Joakim Bruchmann

CEO/co-founder

Fredrik Grothe-Eberhardt

Fintech Founder/Angel Investor

Steffen Frølund

Founder/Board Member/Chief Marketing Officer

Company Description

Problem

European investors face challenges accessing the U.S. stock market due to commission fees, currency conversion costs, and complexities related to tax reporting and foreign regulations. Traditional investment platforms often lack transparency in their fee structures, eroding potential returns for investors seeking to diversify their portfolios with U.S. equities.

Solution

Pluto provides a commission-free investment platform that simplifies access to the U.S. stock market for European investors. The platform enables users to trade over 4,000 U.S. and European stocks and ETFs, including fractional shares, without incurring currency conversion fees or hidden charges. Pluto streamlines tax reporting, minimizes dividend tax liabilities, and offers an auto-invest feature for automated stock savings, avoiding the complexities of ETF taxation. By offering live market prices, extended trading hours, and 24/7 customer support, Pluto aims to provide a seamless and cost-effective investment experience. The platform is regulated in Denmark and covered by the Deposit Guarantee Scheme, ensuring a secure investment environment.

Features

Commission-free trading on over 4,000 U.S. and European stocks and ETFs

Fractional share investing, allowing users to invest any amount they choose

Zero currency conversion fees for trading foreign stocks

Auto-invest feature for automated, tax-optimized stock savings

Real-time market data and extended trading hours

Integrated tax reporting to simplify tax obligations

Support for both market and limit orders

Mobile app available for iOS and Android

Target Audience

The primary target audience includes European retail investors, particularly those in Denmark, seeking cost-effective and simplified access to U.S. and European stock markets for portfolio diversification and wealth accumulation.

Revenue Model

Pluto generates revenue through interest on customer cash balances, a 0.1% commission on extended-hours trading, a 2.5% fee on deposits via Apple/Google Pay exceeding 5,000 kr, and a 0.15% fee on currency exchange. Additional revenue streams are planned for shorting of stocks (0.25% commission), advanced trading modes (49 kr/month), and corporate accounts (179 kr/month).

Sources:

1
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