Mobile And Web Brokerage Nvstr Rebrands As Tornado Empowering Smarter Investing Decisions For Anyone Who Aspires To Become A Better Investor
Marc Lore and Alex Rodriguez Lead $10 Million Seed Funding Round with Participation from Dave Portnoy and NEA’s Tony Florence
Nvstr announced it has rebranded as Tornado, a modern web and mobile brokerage and community for investors at any level. The rebrand and newly launched Tornado website and mobile app including new and expanded technology features are supported by a $10 million round of seed funding. The round was led by baseball legend, Chairman and CEO of A-Rod Corp Alex Rodriguez and billionaire serial entrepreneur Marc Lore, co-founders of the recently launched venture capital firm VCP, with participation from Founder of Barstool Sports Dave Portnoy and New Enterprise Associates (NEA) Managing General Partner Tony Florence.
A natural evolution of the enthusiastic and diverse investing community that has grown on Nvstr over the past several years, Tornado’s enhanced social and technology features facilitate a level of community engagement that is unmatched in the industry. These features include:
- Community: Unlike traditional and other online brokerages that typically provide only individual portfolio information, Tornado is a social investing platform where investors build a network of trusted sources, see what stocks their connections hold and track stocks that are trending in the community. Users can also monitor personal portfolio performance versus connections in their network, the broader Tornado community and relative to market indices.
- Curated Content and Education: Tornado curates, vets and filters investment content from a wide range of investors with deep experience across Wall Street. Unbiased pro/con stock commentary, audio and Q&A discussions with leading voices provide a personalized framework to advance financial education for investors of any level.
- Access to World Class Analytical Tools: Tornado provides users access to data, insights, analysis and portfolio optimization tools typically only available to professional Wall Street investors.
“We’re thrilled to be teaming up with Marc, Alex, Dave and Tony to help solve the crisis in investing education,” said Bernard George, co-founder and CEO of Tornado. “Our fast-growing community is proving that engagement and advancement can be two sides of the same coin. We’re grateful for their support as we work tirelessly to empower everyone – from first time investors to veterans with decades of experience – to take that next step in their own personal journey to becoming a better investor.”
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Patrick Aber, co-founder and COO of Tornado, added, “Financial wellness has never been a more important mission. We’re excited to introduce additional innovative features that will further empower our community of investors in the coming months.”
Tornado marks the second investment from VCP, which launched in May 2021.
“From the moment we met Bernard and Patrick, we knew they exhibited the key traits we look for when investing in a company and its founders,” said Lore. “They have a tremendous vision for Tornado that we believe solves the crisis in investing education and helps anyone who aspires to become a better investor. Providing a large amount of capital upfront will help build out a world-class team and we’re excited to be a part of their growth and success.”
“Growing up with limited resources, I understand the importance of financial literacy,” said Rodriguez. “I am a huge proponent of empowering more people to engage in the markets in an informed way. Tornado’s mission is to do just that by combining a mobile brokerage with financial education resources and I am proud to call them a partner.”
Accessible to anyone, Tornado costs $4.99/month to subscribe, with 25 commission-free trades and also offers free simulated trading. The smarter investing platform is powered with machine-learning algorithms and a patented technology to personalize and optimize content for each user. Data is stored with highly secure 256-bit AES encryption.
“There’s been a lot of chaos in the stock market,” said Portnoy. “It’s hard to know who has your back. The platform Bernard and Patrick are building at Tornado aims to give everyone the power to become a better investor – doesn’t matter where you start from. What I love about them is they’re serious about this mission and above all else, will always put the individual investor first.”
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