Wombat lands £2m investment as appetite for thematic, fractional trading grows
by Startacus Admin
The innovative investment platform Wombat secures major funding to help with further development and to expand the shares and investments on offer
Great news for Wombat, the UK’s first thematic & curated fractional investment platform which has just closed a £2million seed round to help the fast-growth business serve consumers’ increasing appetite for shares investing.
The seed round, led by Fuel Ventures, will help Wombat further develop the platform to provide easy access to the world of investment and further open up its ability to offer fractional shares in global, household brands. Wombat’s fractional investment platform is the first of its kind in the UK and is encouraging a new generation of investors to save for the future by helping them to invest in shares, without the complexity and cost that is so often associated with trading on the stock market.
Wombat’s mobile-first, fractional micro-investment platform was founded by serial entrepreneur and former trader, Kane Harrison, in 2019. The platform enables more than 62,000 users to invest and diversify their portfolio across 31 popular shares and its 22 theme-based curated funds.
By curating funds based around relatable themes, Wombat allows the user to match their beliefs and interests with their investment choices. Top trending funds include ‘The Techie’, “Pure Gold”, and ‘The Green Machine’ which aims to please the passionate social and impact savvy investor.
In the coming months Wombat will further expand the number of shares and funds on offer. Wombat will continue to use its seed money to develop the platform, adding in new features, like its recently launched instant deposits, as it opens up the world of investing to a millennial audience and helps millions save for their future seamlessly.
Kane said: “A majority of people in the UK and Europe aren’t doing enough to save for their future. With banks providing all-time low interest rates, we have seen appetite for investing grow, many feel overwhelmed with the perceived complexity of handling shares. Our goal is to make investing in the stock market relatable and less scary. With a low starting point of £10, anyone can try it out”.
Mark Pearson, founder and managing partner of Fuel Ventures, added: “Kane and the Wombat team are breaking open the stock market for everyone and giving young people access to other saving opportunities. We haven’t seen a platform like this in Europe. Wombat is the first to help introduce regular, micro investing into the market - putting people’s concerns at ease by easy investing in things they understand.”
Today’s investment sees Fuel Ventures join Wombat’s board alongside the continued support from Wombat’s angel investors - Chris Adelsbach, a key investor in Atom Bank and Monese, James Moore, Trainline’s former UK General Manager amongst other prominent angels in the industry. This gives Wombat access to a wealth of knowledge and expertise to help them to continue to grow and drive their mission to help people invest in the brands and areas they love.
Wombat is also nominated for this year’s British Bank Awards in recognition of the innovation it is bringing to shares investing.
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Published on: 9th February 2021
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