A recently launched investment research firm has today unveiled plans for expansion after raising £450,000 in a second funding round - and is hoping to attract more private investors to use the service.
Research Tree, which was established by former equity research analyst Rob Mundy, began operations last month. The company provides investment research from 20 different providers via an online platform and currently covers over 85 per cent of companies in the FTSE 100.
The firm plans to use the proceeds of its funding round to expand its online offering, broaden its research coverage and increase the number of providers its has signed up to the platform, and Mundy believes the company can capitalise on recent changes in the personal finance arena introduced by the government.
"At a time when the UK government is giving people greater financial autonomy, as seen with the recent pension reforms and raised ISA allowance, we believe Research Tree is well placed to benefit from the increasing demand for investment information," he said.
"We strongly believe that private investors should have access to high quality investment research and see our platform as an affordable tool to help level the playing field, enabling investors to make better informed decisions when managing their personal finances."
Mundy added: "The funding will enable us to increase the platform’s functionality, grow the research offering and add new high quality providers to the site, safe in the knowledge that we have a strong balance sheet with which to do this."