AI retail trading agent startup Catalyst raised a $30M seed led by Sequoia and says a pilot generated hundreds of millions in trading volume over two weeks (Allie Garfinkle/Fortune)
Justin Zheng is pretty sure Dylan Iskandar took his money the first time they met as teenagers, over a poker game in 2019 at a conference run by economist Tyler Cowen.
Catalyst, an AI retail trading agent startup, has raised $30 million in seed funding led by Sequoia. The company's founders, Justin Zheng and Dylan Iskandar, met as teenagers at a conference run by economist Tyler Cowen in 2019. They have backgrounds in technology and finance, with Zheng building a biometrics startup and joining Worldcoin, while Iskandar published papers for the U.S. Department of Defense.
According to Fortune, Catalyst's pilot program generated hundreds of millions in trading volume over two weeks. The startup aims to make the financial world more navigable for everyone by using AI to help preserve and grow capital. Zheng noted that the increasing complexity of the financial world requires a new approach, and Catalyst's AI agents are designed to provide this.
Zheng and Iskandar's vision for Catalyst is to use AI to help individuals reach their financial goals. The company's founders have a quantitatively inclined background, with Zheng getting into Ethereum in middle school and Iskandar being a cybersecurity whiz kid who published papers for the U.S. Department of Defense in high school.
Brief written by urgent.news from Techmeme, Fortune — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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