Pelican Exchange, an FCA regulated app where users can trade, chat, and analyze performance, has launched an equity crowdfunding campaign on Crowdcube to raise £750,000. While sharing details about the app, the Pelican Exchange team stated:
“We integrate trade execution with communication into a central network for traders. Users can connect with their own personal network or discover and swap ideas with other market professionals. We provide the FCA umbrella permission that allows retail traders to interact with each other – share, copy and analyse each others live trades.”
Since launch, the Pelican Exchange app has achieved:
- Live on iOS & Android
- Good engagement levels (avg > sessions / week)
- Early revenue generating (£4,349)
- Trading tool for one of the major names in the day trading industry
The current plan is to establish position as the most advanced trading network by doing the following:
- Optimising viral appeal of the network
- Extending product offering to share-dealing, desk-top, MT4 and Sports Betting
The apps team went on to add:
“Over the past year or so we have repeatedly made our case to you, as clients, for our existence. Simply put, by sharing trades and ideas with other traders you are better placed to make good trading decisions and thereby improve your profitability.”
So far, Pelican has also successfully completed two funding rounds for Post Beta Testing (£250,000 in 2015) and Post Live on iOS and Android (£563,000 in August 2016). Funds from the Crowdcube funding round will be used to continue the app’s development. Since its launch, the initiative has secured more than £625,000 from nearly 100 investors. It is set to close at the end of October.
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