Kapitall, With Fresh $13M in Hand, Aims to Simplify Online Investing

2/19/14Follow @jpruth

A New York-based developer of an online investing platform now has more money to dabble with.

Kapitall announced Wednesday it raised $13 million in a round led by Linden Venture Fund, with Bendigo Partners and others participating.

The company, founded in 2008, created a game-style interface to make it easier for the layperson to navigate online investing. Kapitall said it plans to put its latest funding towards new product development and attracting more customers.

Thus far the company says it has raised almost $25 million in funding. Some of its backers include Strauss Zelnick, CEO of video game publisher Take-Two Interactive; Glenn Stevens, CEO of Gain Capital; and Lee Barba, CEO of Thinkorswim online brokerage.

Since 2012, Jarrett Lilien has led Kapitall as CEO. He came to the company with a bit of history in the investing world, which includes his time as COO and president of E-Trade Financial. Lilien also founded investment firm Bendigo Partners to back new financial services tech.

João-Pierre S. Ruth is the editor of Xconomy New York. He can be reached at jpruth@xconomy.com and followed on Twitter @jpruth. Follow @jpruth

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