Investment platform Sharesies has raised $25 million from new and existing investors including Trade Me, Stephen Tindall's investment company K1W1 and Icehouse Ventures.
Sharesies, which has had record growth this year off the back of a rise in new investors entering the sharemarket, will use the funds to expand its platform and support its expansion in Australia.
Brooke Roberts, co-founder and one of its three co-CEOs, said Sharesies had recorded 227 per cent user growth in 2020, demonstrating people's appetite for simple and low-cost ways to invest.
"Sharesies has grown a lot this year, with more than 250,000 Kiwis embracing the platform. We also built out our investment platform by adding US shares, so investors can access US and NZ share offerings in one place."
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Roberts said the new funds would be used towards recruiting and growing the business in both New Zealand and Australia.
"As we head into 2021, we are excited to continue strengthening our platform and expand into Australia, where we feel Aussies will enthusiastically embrace the way we provide access to investment opportunities," Roberts said.
Trade Me remains the largest shareholder at 15.4 per cent while Discount Nominees - a company owned by John Benton is the second largest at 9.5 per cent.
Co-founders and co-CEOs Leighton, Brooke Roberts and Sonya Williams own 6.26 per cent each.
The capital raising also attracted new investment from US venture capital investment company Amplo which now owns 2.73 per cent and Givia Pty - a charitable trust whose directors include Xero's director Craig Winkler which owns 2.32 per cent.