Zecco Holdings Inc., a Burlingame, Calif.-based zero-commission online brokerage, has raised $25 million. Velocity Capital led the round, which came with a post-money valuation of approximately $100 million, according to VentureWire.
Zecco Holdings, Inc (www.zecco.com), which offers users a financial community and is widely known for providing access to free stock trading through its wholly owned subsidiary, Zecco Trading, Inc., announced today that it has secured $25 million in new funding from a number of current and new investors.
“We are extremely pleased with the support from our existing and new investors. This large infusion of capital will allow us to accelerate our already explosive growth, while simultaneously making significant advances in Zecco Trading's customer service and trading functionality. With the additional funding, we anticipate our current capital is sufficient to carry us to profitability,” remarked Jeroen Veth, CEO of Zecco.
With the close of the latest round, the total capital raised by Zecco is over $35 million.
Zecco Trading took the brokerage industry by storm last October by offering access to free stock trading. One year later, Zecco Holdings launched ZeccoShare, a revolutionary investing community available through zecco.com. ZeccoShare users can share verified portfolios and trades, see each other's actual performance (available as of next week), and create specific groups with other like-minded investors (such as “socially responsible investing”, “women on investing”, or “value investing”). This gives member unprecedented transparency as they participate in discussion forums, blogs, chat and more. ZeccoShare users can expect additional exciting enhancements in the coming months, including new community-based filters that highlight the collective intelligence of the ZeccoShare open and transparent user base.
“We are aggressively hiring and training new customer service associates to support our rapidly growing customer base,” said Frank O'Connor, Director of Brokerage Products at Zecco Trading and former COO of Brown Co. “And our options analytics and trading capabilities are set to leap frog most of the other major brokerages in the coming weeks. So not only will our customers have the lowest commission pricing in the industry (free), they'll have some of the best trading functionality too.”
About Zecco Holdings, Inc
Headquartered in Burlingame, California, Zecco Holdings, Inc. (http://www.zecco.com) offers users a financial social networking community, and access to free stock trading through its wholly owned subsidiary, Zecco Trading, Inc.. This revolutionary pricing and innovative financial community where great investing ideas can be freely shared, debated and tested, provide a refreshing alternative to traditional brokers like E*TRADE, Charles Schwab, and TDAmeritrade. Notable backers of Zecco include shareholders Morten Lund of LundKenner, an early investor in Skype, and Dutch telecom pioneer, Marcel Boekhoorn. Zecco/Zecco.com is not a securities broker/dealer. All securities and investments are offered through Zecco Trading, Inc., member FINRA / SIPC. The 10 free trades per month, $4.50 thereafter offer is only available through Zecco.com.