Micro-investing platform Wombat has become the UK’s first investment platform to offer users cashback each time they invest, as part of its new Instant Investing account.
The account - allowing users to buy and sell stocks instantly and commission-free - will provide 0.2% cashback every time a user makes an investment, helping their portfolio grow faster.
Available through Wombat’s Instant General Investment Account (GIA), the new plan offers users a host of additional benefits, including access to real-time investments, live market pricing and instant cash top-up functions. Investors will also benefit from access to a portfolio summary showing total invested, cash value and overall portfolio returns in both percentage and pounds and pence terms.
Launched in 2019, Wombat has seen rapid growth as investors flock to access its range of theme-based exchange-traded funds (ETFs) and curated UK, US and EU fractional shares. Users can invest with as little as £10.
Instant investing is the latest in a series of developments for the platform as Wombat gears up for an initial expansion in Europe.
Kane Harrison, CEO and co-founder of Wombat, said: “The addition of Instant Investing and our unique cashback feature is an exciting part of Wombat’s progression and demonstrates our commitment to offering users the tools they need to invest in the way they want.
“As our users gain more experience and confidence in investing in funds and shares, they will be able to unlock real-time investments and live market pricing, giving them more options and opportunities as they progress their investment journeys on the Wombat platform. And the addition of our cashback feature means we can help them grow their portfolios even faster, every single time they make an investment with us.”