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In April 2009, kaChing demonstrated its new Investment IQ platform at FinovateStartup. (video link) Since then, the company has made several changes to its business model.

In 2009, the platform was open for anyone to share their holdings and allowed users to mimic any private investor's portfolio. Since that time, kaChing has altered its platform to so that it only tracks professional Registered Investment Advisors (RIAs). As to what motivated the change in direction, the startup says that most people are more interested in following a professional investor's strategy than another DIY investor. It also found that professional investors were looking for a platform to share and promote their track record.

There are now two sides to the kaChing business:

Consumers

kaChing allows investors to open an account and invest with RIAs based on their track record and portfolio focus. This provides small-scale investors unique access to high-level fund managers that normally only service customers with minimum portfolios of $50,000 to $500,000 or more.

Business-to-Business (KaChing Pro)

kaChing Pro is the professional side of the platform. The company handles administrative chores and provides many analytic tools allowing RIAs to profitably manage smaller accounts. Any professional can use kaChing Pro, but only those whose "Investment IQ" surpasses 140 points are open to all users to invest with.

KaChing Pro markets to small and medium-sized RIAs with assets under management not exceeding $500 million. Currently, kaChing has sixteen qualified RIAs and more than 600 investors. The company has almost $11 million in assets under management. The company has raised more than $10 million in venture capital funding. The company has more than 20 employees, up from 10 at the time of FinovateStartup 2009.

For more information about kaChing see www.kaching.com or for more information about kaChing Pro, see http://pro.kaching.com. The company's brokerage partner is Interactive Brokers, LLC.