Stockpile raises $30 million for fractional stock trading app

Stockpile raises $30 million for fractional stock trading app

Millennial-focused fractional share trading app Stockpile has raised $30 million in Series B funding led by Fidelity backed Eight Roads Ventures.

This latest investment brings the total raised by Stockpile to more than $45 million. Mayfield led Stockpile's $15 million Series A in October 2015, with participation by Arbor Ventures, Stanford University, and actor Ashton Kutcher.

"We're on a mission to make it simple for everyone - especially young, first-time investors - to save and invest for their future," says Avi Lele, Stockpile's founder and CEO. "Fractional shares make market investing fun, easy, and personal. Even someone with only a few dollars can buy a piece of a favorite brand like Amazon or Alphabet, which are currently trading close to $1000 a share."

Stockpile customers can download the iPhone or Android app or visit stockpile.com to open a free account for themselves or anyone in their family, including children under 18. They can buy individual stocks or ETFs at 99 cents a trade, set up an automatic investment plan, track their investments, learn about stock investing through free mini-lessons, or help others get started by purchasing e-gifts or physical gift cards redeemable for stock.

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