Fractional investing platform Wombat has raised $2mn seed funding.
In Brief:
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The funding round was led by Fuel Ventures.
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Wombat was founded in 2019 and currently has 62,000 users.
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Its platform enables people to invest fractionally based on their interests and values.
What does this mean?
Across its 22 curated funds based on themes such as “The Techie” and “The Green Machine”, Wombat offers access to well known brands including Tesla, Apple and Netflix. The platform aims to appeal to Millennial and Gen Z customers.
Wombat will use the fresh funds to continue the development of its platform and add new features. Founder Kane Harrison commented: “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.”
