Commission-free retail brokerage Stake scores $30 million investment

Commission-free retail brokerage Stake scores $30 million investment

News
May 18, 2021 by J.D. Smith
19
Australia-based commission-free brokerage platform Stake has scored $30M in new funding from Tiger Global and partners of DST Global to fuel its expansion into European markets. Stake offers retail investors access to more than 4,400 US stocks & ETFs, alongside analyst ratings and price targets from Wall St firms. In the past year the firm
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Australia-based commission-free brokerage platform Stake has scored $30M in new funding from Tiger Global and partners of DST Global to fuel its expansion into European markets.

Stake offers retail investors access to more than 4,400 US stocks & ETFs, alongside analyst ratings and price targets from Wall St firms.

In the past year the firm has grown its total customer base more than six times over, and launched in the UK, Brazil and New Zealand and now has more than 330,000 customers globally.

Matt Leibowitz, founder and CEO, Stake, says: “We’re really excited to get to this point but it’s just the start. We set out to change the game for retail investors and were self-funded for the first four years of our journey. We’ve proven the model and now have the chance to expand our product and bring our zero-brokerage service to more retail investors,”