Pluto.markets secures €2.4M funding to disrupt Nordic brokerage market, Denmark

Pluto.markets, a Copenhagen-based neobrokerage startup backed by Y-Combinator, has secured €2.4 million in funding to challenge the brokerage market in the Nordics and beyond. The funding round was led by Berlin-based investor Magnetic, with participation from prominent local unicorn founders and other influential angels. Joakim Bruchmann, CEO & co-founder of Pluto.markets, expressed confidence in their mission to disrupt the Nordic region’s brokerage market, which is currently dominated by incumbents with high profit margins. The company aims to make investing simple and accessible to the 100 million Europeans residing in countries with their own local currencies. By obtaining an EU Investment Firm and Custody License, developing core banking infrastructure, and testing their social trading app, Pluto.markets is well-positioned to become a leading challenger in the rapidly evolving financial markets. With a focus on non-Euro countries, where neo-brokerage penetration lags behind other regions, the coming years will be crucial for determining the industry’s future winners.