It is difficult and time consuming to find clean reliable data and then analyze it correctly. Humans weren’t made to run through intense algorithms to sort through Big Data and stay sane. That is why Inovance created their new platform TRAIDE. This NYC Startup allows you to find clear entry and exit signals via interactive visual analysis.
Cofounder Tad Slaff join us today and demonstrates how we can save time and make money with his new fintech startup.
Tell us about the product or service.
TRAIDE is an analytics platform allowing individual traders to easily uncover actionable information from a wide variety of data by leveraging machine learning.
How is it different?
Analyzing financial data is a huge pain. With TRAIDE, start out with an idea and end up with a fully automated strategy, built using powerful machine-learning algorithms, within a matter of minutes.
What market are you attacking and how big is it?
We’re targeting the 12 million active, self-directed traders globally, a $6 billion market.
What is the business model?
SaaS. We license directly to traders and brokerages for a small monthly fee.
What inspired the business?
Justin Cahoon, one of the other co-founders, and I were working at a brokerage and saw that there was a huge need for an analytics platforms that was both easy to use and delivered actionable results. With Mac Feliciano’s, our other co-founder and CTO, experience (Masters from Stanford and 20+ years developing enterprise software), Justin’s management and trading experience, and my machine learning/data science background, we had the perfect team and a huge opportunity, thus TRAIDE was born!
What are the milestones that you plan to achieve within six months?
We just signed our first contract with a brokerage! We’re going to build other great partnerships, continue to build a great product for our users and really scale up our user base.
What is the one piece of business advice that you never got?
You don’t have to know everything as long as you know the right questions to ask.
If you could be put in touch with anyone in the New York community who would it be and why?
Our advisors and investors have been great about getting us in touch with the right people.
Why did you launch in New York?
The financial capital of the world, an incredible entrepreneurial spirit, and a hotbed for talent, the list could go on!
What’s is your favorite restaurant in the city?
I love Mexican food so you can usually find me at La Superior in Williamsburg getting my fix.