Israeli based fintech company TipRanks announced today an investment of $77 million led by Prytek and More Investment House.
Founded in 2012 by Uri Gruenbaum and Gilad Gat, TipRanks provides a simplified stock research platform that makes alternative datasets accessible and visual for retail investors.
In 2013 TipRanks launched its Financial Accountability Engine™ to bring transparency to online investment advice for the first time. Using Natural Language Processing it tracks and measures the performance of over 7,000 professional analysts and enables investors to see their track record and evaluate their advice. The service quickly became the standard in Wall Street for ranking analysts and is used by most banks.
Uri Gruenbaum, Co-Founder and CEO said “In addition to being the only company that ranks analysts based on their performance rather than the prestige of the bank they work for, we are the only company that makes aggregated analyst ratings available to retail investors. This gives investors access to information that would otherwise cost tens of thousands of dollars each year.
We have leveraged our popularity and strong tech capabilities to launch more tools and datasets. This has given the average Joe and Jane access to the same data as the biggest asset managers. We analyze all finance related news, corporate filings, analyst research and social media to provide retail investors with the same level of information that only institutional investors can afford. By doing so we enable retail investors to make data-driven investment decisions.”
This investment round comes after an extraordinary year for the company which saw subscription sales grow by 300%. The company currently has over 4 million monthly users. It also has an enterprise solution used by numerous financial institutions including Nasdaq, E*TRADE, TD Ameritrade, eToro, Bank Santander and others that have integrated TipRanks’ research tools onto their platforms.
Gruenbaum added “There has never been a more important time in capital markets history to provide transparency to individual investors. We have all seen how responsive investors are to trends on social media. Today, all you need to become a ‘Financial Expert’ influencer is an email address. Our platform helps millions of investors evaluate ideas and make data-driven decisions. We plan to use the new funding to create and acquire more exclusive datasets that will give retail investors a real edge. We will also expand our coverage to other asset classes and markets.”
The investment round was led by multinational technology corporation Prytek. Founded by Andrey Yashunsky, Prytek provides an integrated infrastructure solution for the banking industry with a focus on the capital markets. Prytek both builds and invests in various financial technologies and delivers a Business Operating Platform for banks.
Andrey Yashunsky said “Today there are plenty of different trading platforms that make investing very accessible. This has created a new problem where non-professional investors are being misguided by rumors and bad advice. We loved the fact that TipRanks provides unbiased and objective insights. Our vision is for TipRanks to become the leading information platform that every investor uses before making an investment decision.”
With this new investment TipRanks is expected to more than double its head count, currently 60 employees located mostly in Tel Aviv and open offices in New York.
FAQs
Affordable pricing — If you're an active investor, even the most expensive plan at $49.95 per month is a steal based on the information that TipRanks is giving you. If you're someone who picks one or two stocks a year, it probably wouldn't be worth it.
Who is the top analyst on TipRanks? ›
Analyst Toshiya Hari of research firm Goldman Sachs is the Most Accurate and Profitable analyst for INTC stock over a one-year time frame. Let's take a look at the All-star analyst's performance in detail. The TipRanks All-star Analyst of the Day title goes to Toshiya Hari of research firm Goldman Sachs.
Where does TipRanks get their data? ›
Essentially, we drive transparency by tracking and measuring the performance of over 96,000 financial experts, including Wall Street analysts, financial bloggers, hedge funds, and corporate insiders, and making this information publicly available.
Who uses TipRanks? ›
E-Trade, TD Ameritrade, eToro, Santander Bank, Interactive Brokers, CIBC, Questrade, TD Direct, Futu and Nasdaq.com, and other finance companies integrate TipRanks tools onto their platforms.
How many people use TipRanks? ›
Between 3 to 4 million users access the TipRanks website each month and, including the users of the trading platforms that display the “powered by TipRanks” analysis, Gruenbaum estimates that 30 million investors “look at our products” each month.
Which is better, TipRanks or Seeking Alpha? ›
If you care more about sentiment and market trends than underlying data, chances are you'll have a better time with TipRanks. Their analysis isn't nearly as thorough as Seeking Alpha's, but that doesn't really matter to investors who prefer to trade on prevailing opinions over underlying facts.
Which is better TipRanks or Zacks? ›
TipRanks and Zacks offer stock recommendations and research for self-directed investors. TipRanks focuses primarily on price targets from Wall Street analysts, insider activity, and sentiment from TipRanks users. Zacks focuses on fundamentals and has its own team of analysts to research stocks.
What is the best paid stock analysis website? ›
A quick look at the best stock research websites
| Our pick | Best for | Pricing |
|---|
| Seeking Alpha | Opinionated research | Paid |
| TradingView | Charts and technical analysis | Primarily paid |
| Motley Fool | Paid stock recommendations | Paid |
| Morningstar | Mutual funds | Primarily free |
3 more rowsMar 6, 2024
Top 19 TipRanks alternatives
- Trading Central. Website: tradingcentral.com. ...
- StockCharts.com, Inc. Website: stockcharts.com. ...
- Morningstar. Website: morningstar.com. ...
- Bloomberg LP. Website: bloomberg.com. ...
- S&P Global. Website: spglobal.com. ...
- East Money Information Co., Ltd. Website: eastmoney.com. ...
- Benzinga. ...
- Zacks Investment Research.
TipRanks Tel Aviv is located in Tel Aviv, Tel Aviv, Israel .
TipRanks was acquired by PRYTEK for $200M on Aug 8, 2024 .
How trustworthy is TipRanks? ›
The first good sign is that TipRanks has the highest investing platform rating on TrustPilot that I have ever seen.
Who is the CEO of TipRanks? ›
Uri is the CEO and co-founder of TipRanks.
How do TipRanks work? ›
TipRanks default settings measure analyst performance over no benchmark, meaning that any movement in the stock is calculated as a gain or loss for the analyst. For example, if an analyst recommends buying shares of a stock when it is at $20 and the stock climbs to $25, the analyst earns a 25% profit on the call.
Which is better, zacks or TipRanks? ›
TipRanks and Zacks offer stock recommendations and research for self-directed investors. TipRanks focuses primarily on price targets from Wall Street analysts, insider activity, and sentiment from TipRanks users. Zacks focuses on fundamentals and has its own team of analysts to research stocks.
What is alternative to TipRanks? ›
Top 19 TipRanks alternatives
- Trading Central. Website: tradingcentral.com. ...
- StockCharts.com, Inc. Website: stockcharts.com. ...
- Morningstar. Website: morningstar.com. ...
- Bloomberg LP. Website: bloomberg.com. ...
- S&P Global. Website: spglobal.com. ...
- East Money Information Co., Ltd. Website: eastmoney.com. ...
- Benzinga. ...
- Zacks Investment Research.
The Bottom Line: Stock Advisor is well worth the money. If you're looking for a service with an exceptional, S&P500-beating track record and can stomach the volatility of growth stocks, it's almost a no-brainer.
