The investing app wants to give customers more information about profit and loss so they can make better decisions.
Lightyear, a stock trading app, is rolling out “Portfolio Insights” to “create successful investors.”
The new feature is meant to help users diversify their investments by making it clear which sectors, companies, and countries they are investing in with Lightyear.
Along with the insights feature, it is also releasing a portfolio profit and loss explainer. It hopes that this will help investors understand the most important numbers better.
“Diversification is key when it comes to building your investment portfolio and managing it sustainably for years to come. But often it’s really tricky — especially when holding both ETFs and single stocks at once,” Lightyear co-founder and CEO Martin Sokk said.
With the new feature, users will be able to see a full breakdown of their investments in ETFs and stocks.
So, if their portfolio has 50% Apple stock and 50% VUSA (Vanguard S&P 500 UCITS ETF), which has 30% in tech, then the Portfolio Insights will show that they have 65% of their portfolio in tech.
“Investing has for too long been too complicated, which is why Lightyear has always had an intense focus on delivering the best user experience through an intuitive, transparent design,” Sokk told.
“We’ve built a pretty amazing brokerage, but it’s not just an execution venue. We truly want every investor on Lightyear — novice or advanced — to have the best tools in one place for all their investment research and tracking.”
Lightyear has released a number of products since it went live in 2020, including in-app earnings calls, which it added earlier this year, and 90 new German stocks and ETFs. The two new features add to this list.
Sokk and Chief Technology Officer Mihkel Aamer, who both went to Wise, started Lightyear. In July of last year, Lightspeed Venture Partners and Sir Richard Branson led a $25 million series A equity round. Lightyear is now live in 21 countries.
