Currensee, a Boston-based startup that provides an online trading platform for world
currencies, recently launched its Trade Leaders program in China. The Trade Leaders program allows investors of all ability levels to automatically copy the currency trades of the highest-performing investors on Currensee’s platform. As part of this expansion, the company is launching a dedicated website to serve the Chinese market — www.currensee.hk.
Why is Currensee expanding to China?
- It’s a huge potential market: China has 450 million Internet users and it is the second largest economy in the world.
- Investing is increasingly popular: Retail currency trading in China has grown 112% in the last 3 years to almost $20 billion in trading volume per day.
- Currensee’s performance is beating the Chinese stock market: From January to June 2011, Trade Leaders delivered returns of 33.5%. Compare this to the Heng Seng Index’s 2.94% return and the Shanghai Composite Index’s 2.39% loss during the same time.
- Plus Currensee’s Trade Leaders program already has a foothold there: Three of Currensee’s 15 Trade Leaders are from China.
Currensee’s Profile
- Founded: 2008 (Its Trade Leaders Program began in fall 2010)
- Located: Boston, MA
- Total Funding: $16.8 million from North Bridge Venture Partners, Egan-Managed Capital, and Vernon & Park Capital
- Assets Under Management: $12 million (50% is the result of existing customers increasing their investments)
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