Parkside Securities

About Parkside Securities

Parkside Securities, Inc., a fintech firm incorporated in Delaware in October 2018, operated as a registered broker-dealer with the goal of simplifying global access to U.S. stocks. The company, a subsidiary of Parkside Technologies, Inc., provided technological and regulatory services to facilitate cross-border investing for individuals. Its platform was designed to allow people, initially focusing on the Asian market, to invest in U.S. stocks, ETFs, and ADRs using their local currency, featuring low fees and no investment minimums.

The firm was founded by Barry Schneider, who also served as Chairman and CEO. Other key executives included Marc Metcalf as CFO and Marco Pellini as President. Parkside aimed to level the playing field for smaller, international investors, particularly targeting Millennial and Gen Z demographics. To achieve this, the company developed a full-stack platform with over 40 proprietary algorithms intended to create new efficiencies and ensure best execution for trades as small as one dollar. The business model focused on empowering traditional brokerages, digital banks, and SuperApp partners to offer U.S. stock trading to their existing and new customers.

In February 2021, Parkside announced the completion of a $24 million Series A financing round. The round was led by Shanghai-based Enlight Growth Partners and included participation from existing investors like Mubadala Capital, FinTech Collective, and Colle Capital, as well as new investors such as Peak6 Investments and Entrée Capital. This funding was intended to expand the company's technology and brokerage services. Despite its efforts and significant funding, the firm's registration with FINRA ended in June 2022, and by October 2022, the company was listed as out of business.