Why take the risk trading on exchanges and making blind guesses when you can have an algorithm do it for you? This is the thinking behind Bots, the Dutch app that’s raised €13 million in fresh funding from Airbridge Equity Partners and various angel investors. Since its founding in 2018, the startup has raised €25 million.
Bots was launched only some 14 months ago, however, now has over 270 programmes (or bots) on the platform, all buying and trading cryptocurrencies. Each bot has its own specific strategy, and for now, is only trading in crypto, but the company plans to move into other assets before years end.
Ok, so if you’re like me, you might be a bit confused at this point. Where do I factor into things here? Let’s roll things back. What bots, the platform, does, is gives you, the consumer, the opportunity to put your money on any one of these 270+ bots (the programmes) and let them do the trading for you. These bots each have their own unique strategies, all based on various trading algorithms.
For example, as of 5 days ago, Dark Yellow Mia’s specific investment strategy was leading the pack with a healthy +1293.70% return.
“People can choose one or more bots with a strategy and risk profile that suits them. In this way, they don't have to worry about the right buying or selling moment, but can see how the algorithm, the bot makes the decisions,” explains CEO Michiel Stokman. “This technology has been used by professional traders for some time but is now also available to private investors.”
The platform counts over 200,000 users in 18 countries and has a staff of over 70 in 5 countries around the globe.