07 October 2020 • 3 min read
VIENNA, October 07, 2020 – Bots are becoming more and more visible in our everyday lives, be that when you ask your phone for the weather or order your shopping online - bots are behind the scenes making it possible. The idea is that bots simulate our behavior and that they do it in a way that is intelligent and quick. Trality is now making these robotic advantages available to any private investor and trader. The platform allows users to create their own trading bots and they can allow those bots to trade on their behalf. With the help of a successful funding round, Trality is taking things to the next level. By the end of the year they are expected to grow to a team of ten.
“Bot trading is the logical next step in private investing. Our users benefit from algorithms that act intelligently, impartially and fully autonomously. With Trality, we offer a smarter alternative to manually investing and without the high entry costs.” Moritz Putzhammer, Co-founder of Trality.
Trality is currently aimed at traders who want the greatest flexibility when developing crypto bots with cutting-edge technology. In order to attract the smartest bot creators, the Viennese fintech is working on special functionality that allows traders to create automated trading strategies simply using preset commands or using code. Trality does not trade cryptocurrencies itself but rather, it allows users to connect their bots to a growing list of leading partner exchanges including Binance, Coinbase, Kraken or Bitpanda.
“Our power users are mostly hobby quants or data scientists who, unlike banks or hedge funds, do not have thousands of euros to spend on expensive trading tools that help them stay profitable when trading. Over the coming months though, our target group will grow significantly to include a broader range of tech-savvy users - such as those who are looking for a more innovative way to invest,” says the 33-year-old founder. Specifically, Trality wants to target less-experienced users with the help of a ‘marketplace’. This marketplace would allow users to simply rent bots from developers with a couple of clicks on their smartphone, the bots can then be deployed straight away with no setup required.
All the signs are pointing to growth for the young startup. In this first investment round, they brought in angel investments from Austria and the German blockchain accelerator Blockrocket as well as getting the German fintech VC tokentus on board, too. Combined with the Covid-19 Startup Fund from the Austria Wirtschaftservice (AWS), Trality was able to raise over 800,000 euro to realize its vision. Trality also recently sealed a grant from the Austrian Research Promotion Agency (FFG). “With a total of over 1.5 million euro from the investments, AWS and FFG, we can continue to grow and expand,” said Putzhammer. In the long run Trality is also planning on using the broad networks and institutional know-how of its investors to expand into traditional asset classes.
For the development team, one of the main focus points is the integration of artificial intelligence into the product. "A big part of the funding will be directed into research and development so that developers can train and prepare their bots for even the most difficult market conditions using machine learning," Putzhammer said. “We want to encourage the creativity of our bot creators instead of restricting users to ready-made models”. With the help of educational elements, Trality will make it easy for aspiring bot creators to get started with automated trading.
Trality Co-Founder & CEO
Trality was founded in Vienna in January 2019 to offer a better alternative for private investments with the help of automated trading bots. The founders Moritz Putzhammer and Christopher Helf met ten years ago while in university. They found that private trading often results in large losses due to emotional rather than rational decisions whereas bots have no problem with this. The Viennese FinTech start-up Trality now wants to revolutionize the market by making bot trading accessible to everyone who wants to use it to trade smarter. The platform is aimed at traders of all skill levels.