Lubna.io raises seed funding from East Ventures
By Digital News Asia May 6, 2019
- Has launched its first mobile application in Google Playstore
- Serves multiple financial assets including cryptocurrency, forex, and commodities
LUBNA.io, robo trading platform that helps people trade multiple financial assets automatically and safely, announced that it has secured a seed funding from East Ventures.
The fresh funds will be used for further product development, new hires in the analyst team and launching their service.
Lubna.io aims to achieve a mission of providing a one-stop solution for retail investors of all shades - from the most novice to professionals.
For novice users, Lubna.io offers a range of trading bots that use advanced-tested algorithmic systems which users can choose to automate their trading activities on user’s brokerage account.
As for professional traders, Lubna.io enables them to automate their trading strategies and earn extra cash by lending their automated trading strategies to novice traders.
With its user-friendly dashboard, Lubna.io allows users to check both fundamental and technical analyses of their trades, receive real-time push notifications whenever the robot executes, and view all their trades and historical positions.
Not only will the robot help users to trade without being overwhelmed with data, but it will also eliminate the effect of the emotional side that can come with investing by utilising artificial intelligence to process all the data before making each trading decision.
Lubna.io co-founder and chief executive officer Kevin Cahya, shared how the idea first came to him while he was juggling a full-time job at East Ventures and started doing trading back in 2015.
“It’s almost impossible for retail investors who have a full-time job like me to achieve maximum profit as we are unable to monitor our portfolios all the time. Furthermore, I see many retail investors, especially novices, having difficulties to achieve positive returns due to the lack of exposure and knowledge in investment. Robo trading is what we see as the solution,” Kevin explained.
Joining the team is Eddy Hartanto and Arthur Soerjohadi - the company’s co-founder and advisor, respectively. Graduated from Standford University, Eddy was a former senior software engineer of Rearden Commerce with strong engineering experience including developing an automation system for forex and engine to capture and analyse candlestick data, while Arthur was sitting as US company Marvell Semiconductor’s country director for Indonesia before joining Lubna.io. Together, the three aim to build the most robust trading bot.
Lubna.io is the first crypto robo-trading in Southeast Asia and currently serves multiple financial assets including cryptocurrency, forex, and commodities. This is only the first building blocks of the financial ecosystem they are currently creating.
They have launched its first mobile application in Google Playstore and in the process to serve iOS users.
“Lubna.io is a robo-trading platform built for people who refuse to settle for average investing. People who demand better,” Eddy explained.
The company boasts its unique algorithms that are all tested and have statistical evidence in proving their hypothesis. "One of our bots is able to score a winning rate of 48% from a total of 288 transactions it made in two months, giving investors a profit gain of up to 143%", explained Kevin.
Melisa Irene, partner of East Ventures, expressed her confidence in this investment. “Young population’s decision to trade cryptocurrency is mainly because the arena has a low barrier of entry: fast and simple process, from onboarding up to withdrawing money back to the bank account.
Lubna is at a great position to accelerate the participation of young population to invest, and its vision to assist users to trade with ease will be a key advantage for Lubna to be the first successful crypto robo trading in the region.”