KaChing rings up $7.5M in financing

KaChing rings up $7.5M in financing
KaChing Group Inc's online service — touted as an alternative to mutual funds — may still be in its infancy. But kaChing today announced it has secured $7.5 million in financing.
OCT 19, 2010
The funding, led by DAG Ventures LLC, will be used to fuel kaChing's growth and infrastructure expansion. KaChing has drawn a fair amount of media attention for its service. The service started out as a fantasy investment site, akin to fantasy sports sites. But kaChing, which tracks and identifies skilled investors it calls “geniuses,” now allows users to follow and manually emulate the trades of those geniuses on the site for free. Users who want to mirror the trades of a genius in their brokerage account automatically must pay kaChing a management fee. That rake, which is set by the site's geniuses, averages 1.25% annually. “DAG's investment is a tremendous validation for our vision,” Andy Rachleff, kaChing's chief executive and co-founder, said. KaChing does have competitors, most notably Covestor Investment Management. Both kaChing, which has a big following on Facebook, and Covestor are Securities and Exchange Commission-registered investment advisers.

Latest News

Maryland bars advisor over charging excessive fees to clients
Maryland bars advisor over charging excessive fees to clients

Blue Anchor Capital Management and Pickett also purchased “highly aggressive and volatile” securities, according to the order.

Wave of SEC appointments signals regulatory shift with implications for financial advisors
Wave of SEC appointments signals regulatory shift with implications for financial advisors

Reshuffle provides strong indication of where the regulator's priorities now lie.

US insurers want to take a larger slice of the retirement market through the RIA channel
US insurers want to take a larger slice of the retirement market through the RIA channel

Goldman Sachs Asset Management report reveals sharpened focus on annuities.

Why DA Davidson's wealth vice chairman still follows his dad's investment advice
Why DA Davidson's wealth vice chairman still follows his dad's investment advice

Ahead of Father's Day, InvestmentNews speaks with Andrew Crowell.

401(k) participants seek advice, but few turn to financial advisors
401(k) participants seek advice, but few turn to financial advisors

Cerulli research finds nearly two-thirds of active retirement plan participants are unadvised, opening a potential engagement opportunity.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today’s choppy market waters, says Myles Lambert, Brighthouse Financial.

SPONSORED Beyond the dashboard: Making wealth tech human

How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave