#Asia Nous Global Markets grabs US$750K in funding; targets Philippines

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The startup, based in London, runs a stock market prediction app that hands out cash for good calls

Image Credit: Bacho / Shutterstock

Image Credit: Bacho / Shutterstock

Previously based in Tokyo and recently relocated to London, financial technology startup Nous Global Markets has announced receiving US$750,000 in funding from angel investors, venture capitalists, and others from crowdfunding efforts.

Founded in 2012, the startup launched Spark Profit, a free-to-play virtual trading game app in January 2014, and was reported by e27 to have awarded US$15,000 to beta users worldwide.

The game app lets people predict future market movements with the incentive of earning cash when their predictions are proven correct.

Also Read: StockRadars raises funding from CyberAgent Ventures and East Ventures

Justin Short, CEO, Nous, told this author that the app has garnered 315,000 users and awarded users with US$236,000 in prizes to date.

Nous will use the latest injection of funds to launch a new trading app, which will target people who want to trade their own money within Spark Profit. The app is expected to go live in Q1 2016.

“It’s a little early to go into all the details of the for-money version of Spark Profit but we’re certain it will be the simplest, safest and most fun way for anyone starting to trade as a serious hobby,” he said to e27.

Short also highlighted that while the team is based out of London, majority of Spark Profit users are still from Asia.

“… In fact, the Philippines will be the go-to market for our next app, coming in Q1 2016,” he said, adding that 20 per cent of users are from the Southeast Asian country.

The post Nous Global Markets grabs US$750K in funding; targets Philippines appeared first on e27.

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