Sharesies Group raises $48 million in latest funding round
We knew before making the Sharesies platform available to Australians that Aussies were ready for a change in the financial landscape. And now we’re one step closer to our purpose of helping to create the most financially empowered generation.
Since the Sharesies platform was made available to Australians in April 2021, we’ve seen an incredible response from thousands of investors who are signing up and joining the Sharesies community. We’re also thrilled to be one of Interbrand’s top 10 ANZ Breakthrough Brands of 2021, and to win awards such as Finder’s 2021 Investment Award for best investing platform for new investors, as well as finalist for best investing platform for long-term investors.
We’re just getting started here in Australia, and we have big, exciting plans for what’s to come in the next year—and beyond. With this in mind, we’re stoked to share that The Sharesies Group has raised $48 million AUD and reached a valuation of $480 million AUD.
The money will support new product features and help us deliver on our purpose of financial empowerment. It means a lot that smart, purpose-driven people from around the globe and locally believe in Sharesies and the Sharesies platform and want to support our future growth.
Check out our media release below for more information about the capital raise.
Sharesies successfully raises $50m in funding round
SYDNEY, 28 October — Wealth development platform, Sharesies, has today announced a $50 million ($48 million AUD) capital raise in a funding round led by Amplo, a US-based global venture capital firm, whose mission is to support entrepreneurs building globally ambitious companies that matter.
Other investors include Rahul Mehta, Managing Partner at DST Global. Investment also hails from Australia and New Zealand, including the Benton Group, Icehouse Ventures and Even Capital.
The series C capital raise is the company’s most significant yet and doubles the $25 million ($24 million AUD) raise in December 2020. The funds will primarily fund further expansion in Australia, Aotearoa and offshore, as well as lay the foundation for new product releases and development.
The Sharesies platform was made available to Australians in April this year and Brendan Doggett, formerly at Westpac Australia, was appointed to the role of Australian Country Head in August.
Since the Sharesies platform became available to Australian investors, Sharesies has already won a number of awards in the market. This includes earning a spot on Interbrand’s ANZ 2021 Breakthrough Brands list and winning “Best Investing Platform for New Investors” in Finder’s Investment Awards 2021.
The capital raise values the company at $500 million ($480 million AUD). It follows a near doubling of growth in the past 12 months, and expansion of its customer base to more than 450,000 investors. Sharesies offers a diverse range with access to investments across the ASX, NZX, NYSE, Nasdaq, and CBOE, with more than 8,000 funds and companies at no minimum investment.
Sharesies co-founder and Director Brooke Roberts says: “It’s fantastic that we’re continuing to get very strong support to fund our purpose-driven growth plans including within Australia. We’re just getting started and we’ve got heaps planned to provide further financial empowerment.”
Sheel Tyle, Founder & CEO of US-based venture capital firm, Amplo said: “We want to invest in companies that are purpose-led, and the ambition of the Sharesies team to help everyday people succeed in growing their wealth made the decision to strengthen our existing investment into Sharesies a no brainer. We are delighted to be a part of Sharesies’ next chapter in Australia.“
Ok, now for the legal bit
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