Passiv Raises $2.2M Seed Round to Build SnapTrade Unified Brokerage API

Passiv announced a $2.2 million USD seed round on October 17, 2022, to build SnapTrade, a unified API that allows fintech applications to aggregate and execute trades across retail brokerage accounts for stocks, options, and cryptocurrencies. The round followed Passiv's graduation from Y Combinator and was backed by Mistral Venture Partners, Uncorrelated Ventures, New Brunswick Innovation Foundation, East Valley Ventures, and angel investors. SnapTrade provides real-time account data, historical transactions, and live trading capabilities, serving over 200 million investors via more than 20 connected apps.

Unlike bank-focused data aggregators such as Plaid, SnapTrade targets the investment and trading vertical, filling a gap in brokerage API infrastructure. The platform enables fintech developers to embed brokerage connectivity without building individual integrations for each broker. This positions Passiv in the growing embedded finance ecosystem where unified APIs reduce development costs and time-to-market for fintech products.