A month after drawing investment from TLT East Ventures, Fredericton-based fintech company SnapTrade has partnered with Tickblaze Partners to help the Houston-based futures-trading app to expand into equities and cryptocurrencies.
SnapTrade – the main product of the company whose corporate name is Passiv – is an API, or application programming interface, that allows app developers to connect their software to clients’ brokerage and crypto accounts. The company is a graduate of the Y Combinator accelerator in Silicon Valley.
Tickblaze said in a statement that by partnering with SnapTrade, it is taking a major leap forward in its mission to expand into the equities and crypto markets, building on its established strength in futures.
“Rather than integrating with a single broker, we partnered with SnapTrade to unlock the full retail landscape,” said Sean Kozak, CEO of Tickblaze. “This enables our users to trade with the broker of their choice while benefiting from our superior technology.”
Through this integration, Tickblaze now supports real-time trading and account connectivity with leading global brokers, said the statement. It added that the result is a seamless experience that allows users to link their brokerage accounts, sync data, and place trades directly within the Tickblaze platform.
The Tickblaze deal is the latest in a series of partnerships sealed by SnapTrade. Last month, the company said it struck a partnership with BrokerBotics, an AI-powered platform that helps investors to monitor and optimize their portfolios. BrokerBotics selected SnapTrade to power their portfolio aggregation layer, providing easy, high-quality connectivity to major U.S. brokerages, said the Fredericton company.
Amid the new partnerships, SnapTrade received an undisclosed amount of investment from Saint John-based TLT East Ventures. It is a new fund led by Michael Brown, a New Brunswick-born investment banker whose career has included a stint as a mentor with TechStars in New York.
After closing its first fund earlier this year, TLT announced its investments in SnapTrade and another Fredericton company, Profitual.
“We’re excited to back Brendan Wood and the SnapTrade team as they scale mission-critical infrastructure for the future of digital finance,” said TLT last month, referring to the SnapTrade CEO and Co-Founder. “This investment reflects our continued focus on backing high-potential ventures in Atlantic Canada that are driving scalable innovation and long-term economic growth.”
