Double crosses $10M in AUM + $3.9M Seed Round

blog-banner

JJ Maxwell

Company

Share this Article

facebookXtwitterlinkedinmail

Don't miss an article.

Get most recent news and updates straight from Double Team!

Double is proud to announce we crossed $10M in AUM within 3 months of our beta launch. This achievement underscores the demand for Double's unique approach to zero expense ratio index investing.

"Reaching $10 million in AUM so quickly is a testament to the hard work of our team and the trust our users have placed in us," said JJ Maxwell, CEO. "This is just the beginning of our journey to make investing more accessible and affordable for everyone"

We’re also happy to announce our $3.9 million seed round. This funding will enable us to deliver on our vision of bringing zero expense ratio funds to the masses. We’re proud to be backed by some of the best entrepreneurs in the business, including Ilya Sukhar (co-founder of Parse and now at Matrix), Garry Tan (co-founder of Posterous and now at YC), Jawed Karim (co-founder of YouTube), Jon Xu (co-founder of FutureAdvisor acquired by Blackrock), JJ Fliegelman (co-founder of WayUp), Rich Aberman (co-founder of WePay acquired by JP Morgan Chase), Nick Elledge (co-founder of DataFleets acquired by LiveRamp), Jason Freedman (42Floors acquired by JLL), and Roger Dickey (co-founder of Gigster) among others.

Double is an investment platform that allows you to invest in 50+ broad stock market indexes with zero expense ratios. Unlike traditional financial advisors or ETFs that charge a fee based on a percentage of your assets, Double charges a flat $1/month. Double works by buying fractional shares of the individual stocks that make up popular indexes (SPY, VOO, etc.), allowing for customization and tax-loss harvesting.

With Double, you can easily create and manage your investment strategy, deposit funds, and let the platform handle the rest, including rebalancing and tax-loss harvesting. Our goal is to bring the low-fee trend pioneered by Robinhood to ETFs and mutual funds, potentially saving each customer thousands of dollars over the long term.

This is an exciting time for Double as we continue to grow and innovate in the investment space. We are committed to providing our users with the best possible investing experience, while making it simple and cost-effective for anyone to invest in their future. Thank you for being a part of the Double community, and we look forward to continuing this journey with you. Onwards and upwards!

Our Tools

See All

Fee Calculator

With zero AUM fees on Double, see how much savings a portfolio might accumulate compared to a traditional wealth advisor fee or ETF expense ratio.

empower-sm

0.89%

wealthfront-sm

0.25%

frec-sm

0.1%

1% Typical Advisor Fee

Tax Bracket Estimator

Estimate the taxes across federal, state, short term and long term for your situation.

JJ Maxwell

Company

Share this Article

facebookXtwitterlinkedinmail

Our Tools

See All

Fee Calculator

With zero AUM fees on Double, see how much savings a portfolio might accumulate compared to a traditional wealth advisor fee or ETF expense ratio.

empower-sm

0.89%

wealthfront-sm

0.25%

frec-sm

0.1%

1% Typical Advisor Fee

Tax Bracket Estimator

Estimate the taxes across federal, state, short term and long term for your situation.

Don't miss an article.

Get most recent news and updates straight from Double Team!

Double is a registered investment adviser with the US Securities and Exchange Commission (SEC). While such registration does not imply a certain level of skill, it does require us to follow federal regulations that protect you, the investor. By law, we must provide investment advice that is in the best interest of our client. Please refer to Double's Form CRS for important additional information.

The publicly available portions of the Platform (i.e., the sections of the Platform that are available to individuals who are not party to a Client Agreement - including double.finance) are provided for educational purposes only and are not intended to provide legal, tax, or financial planning advice. To the extent that any of the content published on publicly available portions of the Platform may be deemed to be investment advice, such information is impersonal and not tailored to the investment needs of any specific person. Nothing on the publicly available portions of the Platform should be construed as a solicitation or offer, or recommendation, to buy or sell any security. All charts, figures, and graphs on the publicly available websites are for illustrative purposes only. Before investing, you should consider whether any investment, investment strategy, security, other asset, or related transaction is appropriate for you based on your personal investment objectives, financial circumstances, and risk tolerance. You are also encouraged to consult your legal, tax, or investment professional regarding your specific situation. Registration does not imply a certain level of skill or training.

Investing involves risk. The value of your investment will fluctuate, and you may gain or lose money.

The contents of the Platform may contain forward-looking statements that are based on management's beliefs, assumptions, current expectations, estimates, and projections about the financial industry, the economy, or Global Predictions itself. Forward-looking statements are not guarantees of the underlying expected actions or future performance and future results may differ significantly from those anticipated by the forward-looking statements. Therefore, actual results and outcomes may materially differ from what may be expressed or forecasted in such forward-looking statements.

¹ Data as of July 2024.

² Availability of tax loss harvesting depends on portfolio diversity.

³ As of November 8, 2024. The optional Cash Sweep program takes the cash sitting in your brokerage account and moves it to an FDIC-insured interest-earning deposit account. The current yield is 1.0%, rates subject to change at any time. The cash sweep program is made available in coordination with Apex Clearing Corporation. Please read the Important Disclosures for more information.

⁴ This analysis calculator tool is for illustrative purposes only and is not financial advice. We do not guarantee the accuracy of the results or their relevance to your particular circumstances. This calculator uses hypothetical historical data and does not take into account the effect of taxes on a taxable account. Hypothetical historical data is no guarantee of future performance and this calculator is not intended to predict actual performance. The input of different time periods, amounts, and fees will vary calculator results. Average ETF fee is based on the AUM weighted average of US ETFs as of September 2024, see more information. Note that you can purchase ETFs through Double, which may incur additional fees.

Full pricing details along with an FAQ can be found here

Data displayed in charts and graphics above are for illustrative purposes only and do not reflect actual investment results and are not a guarantee of future results.

By using double.finance, you accept our and . Double is only available to US residents.

See Double Finance Form ADV Part IIA for additional information. Double does not guarantee that the results of its advice, recommendations, or the objectives of its direct index or cash management strategies will be achieved. We make no assurance that the investment process will consistently lead to successful investing. Before you invest, you should carefully review and consider your investment objectives as well as the risks, charges, and expenses of the underlying securities. There is at least a $1,000 account minimum required to participate in Double's strategies, although some strategies may have higher minimums.

Double does not provide tax, or legal advice. Double's website, brokerage, and advisory services are not intended for persons of any jurisdiction where Double is not authorized to do business. Tax savings will vary from client to client due to many factors including market conditions, tax characteristics of securities, client-imposed investment restrictions, client tax rate or status, and changes in tax regulations.