The plan is to offer “regular Sri Lankans” the ability to “crowd-trade and access investment ideas formerly reserved for hedge funds, together with other investors from all over Europe”.
In addition, local investment ideas from an emerging market will be “easily accessible to anyone” on the Huddlestock platform.
Murshid M. Ali, CEO of Huddlestock, says it is a “major milestone for us, and comes in a point of time where exchange controls are partly lifted in Sri Lanka” – and “it opens a whole new array of possibilities for affluent investors in emerging markets, looking to place their capital abroad”.
According to Acuity, it has more than 59,000 clients on the equities trading side. Also, it has more than 17 equity investment advisors, and research, asset management and fixed income advisors.
Huddlestock is based at tech accelerator Level39 in London, and in Oslo. It was founded in 2014 by Ali, Øyvind Hovland and Michel van Tol. The company is backed by Prekubator TTO and Innovation Norway. It is regulated under BaFin in Germany as an investment advisory firm.