Total amount raised
$70.3 Millions
Latest funding date
Location
Title
Stake has successfully raised significant funding to support its innovative online investing platform, which offers trading services for both the Australian Securities Exchange (ASX) and Wall Street. The platform is designed to cater to a wide range of investors, providing access to over 12,000 companies and ETFs with a user-friendly interface and simple fee structure.
Keep reading to explore the intricacies of Stake's fundraising journey and the investors backing this dynamic platform.
What Is Stake?
Stake, founded in 2017, is an online investing platform headquartered in Sydney, Australia. The platform allows users to trade securities listed on both the Australian Securities Exchange (ASX) and U.S. stock exchanges.
With a focus on providing a seamless and intuitive investing experience, Stake offers features like simple fees, CHESS-sponsored investing, and recurring investments. The platform caters to both beginners and experienced investors.
While the exact number of employees and the names of the founders are not specified, Stake continues to grow and innovate in the online trading space.
How Much Funding Has Stake Raised?
- Seed Round
- Amount Raised: $3.5M
- Date: August 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the platform and provide initial capital.
- Series A
- Amount Raised: A$40M (approx. $28M USD)
- Date: May 2021
- Lead Investors: Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and expansion.
- Series A (Additional)
- Amount Raised: A$50M (approx. $35M USD)
- Date: April 2022
- Lead Investors: Hedosophia, Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To propel Stake’s growth, ramp up the crypto offering, and expand its services.
Stake has raised a total of $66.5M USD. The current valuation is not publicly disclosed.
Key Investors
- Tiger Global Management
- Details: Tiger Global Management is a leading global investment firm that focuses on private and public companies in the technology sector. Founded in 2001, the firm has a strong track record of backing high-growth companies.
- Investment Focus Areas: Technology, software, consumer, financial technology.
- Notable Investments: Facebook, LinkedIn, Spotify.
- Hedosophia
- Details: Hedosophia is a venture capital firm that invests in technology companies at various stages of growth. The firm is known for its strategic investments in innovative startups.
- Investment Focus Areas: Technology, internet, software.
- Notable Investments: Not publicly disclosed.
- DST Global Partners
- Details: DST Global Partners is a venture capital firm that invests in internet and software companies. The firm has a history of supporting companies that have the potential to become market leaders.
- Investment Focus Areas: Internet, software, consumer technology.
- Notable Investments: Facebook, Twitter, Alibaba.
What's Next for Stake?
Stake is poised to capitalize on the burgeoning interest in cryptocurrency trading, with plans to introduce this feature to its Australian customers. This move aligns with the growing trend of retail investing, particularly among younger generations. With a customer base that has grown by 500% in the past year, the potential for further expansion is significant.
As Stake continues to grow, additional funding rounds may be on the horizon to support its ambitious plans. The company’s rapid growth and expansion into new markets suggest that future fundraising will be essential to maintain momentum. However, navigating a competitive global trading environment and ensuring regulatory compliance, especially with the introduction of cryptocurrency trading, will be critical challenges.
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