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Fractional share trading platform Wombat raises £2 million

Fractional share trading platform Wombat raises £2 million

UK-based fractional investment platform Wombat has landed $2 million in a seed funding round led by Fuel Ventures.

Founded in 2019, Wombat currently claims 62,000 users for its mobile-based trading platform, offering access to 31 popular stocks and 22 theme-based curated funds. Shares on offer include well known brands such as Apple, Tesla, Games Workshop, Ocado and Netflix.

Wombat says it will use the fresh capital to develop the platform, expanding the number of shares and funds on offer, and to bolt on new features, like its recently launched instant deposits.

Wombat founder Kane Harrison says: “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."

Comments: (1)

Nick Johnson
Nick Johnson - Fontis Search & Selection - London (Farringdon) 08 February, 2021, 17:23Be the first to give this comment the thumbs up 0 likes

Completely agree with the comments by Kane here - most people just haven't got round to commiting to an active pension/investment strategy. Great space to be in.