Huddlestock, a fintech company based at Level39 in London and Pier X in Oslo, has signed an agreement with its first institutional client, the Icelandic Pension Fund, Sparnaður, based in Reykjavik.
Huddlestock, established in 2014 by Murshid M. Ali, Øyvind Hovland and Michel van Tol, launched its platform in 2017, allowing investors to receive and directly invest in investment ideas. The platform combines alpha capture, a successful strategy used at numerous hedge funds, and crowd-trading, giving investors a transparent, flexible and innovative way of investing in the financial markets.
Huddlestock is currently trading in a closed beta environment with over 700 clients. The company continues to improve its offering in preparation for phase 2, which includes introducing ‘huddles’, which allows for collaboration between clients in the form of virtual funds, and a mobile app.
“That we’re being taken seriously by institutional clients is a big step forward for a small company like ours. It shows that our value proposal rings true and that fintech companies are being considered as viable alternatives to the incumbents. Together with Sparnaður we’ll be looking to setup the first huddles on the platform which will help them reach a global audience while directly benefiting their clients,” says Chief Investment Officer, Michel van Tol.