Exclusive: Wombat Invest prepares a £10M Series A to expand across Europe

London-based Wombat Invest has rapidly change into one of many fastest-growing funding apps and providers out there within the UK. Competing head-to-head with Robinhood and Trading 212 and serving to 1000’s of individuals take their first steps in funding, the Britain startup has some huge plans to seize the worldwide market within the coming years. 
In a latest chat with UKTN, Wombat’s founder and CEO, Kane Harrison knowledgeable that Wombat Invest now plans to supply providers across Europe and are within the early phases of making ready a £10 million Series A funding spherical. They intend to start the method of growth into particular European nations early subsequent 12 months. Currently, the corporate didn’t reveal any info on the buyers however be careful for this house for extra info quickly. 
Grown-up funding, easy sufficient for a baby 
The roots of Wombat Invest will be present in CEO Kane Harrison’s teenage years. An Australian — he moved to the UK ten years in the past — at 15 he was incomes round AU$300 a month working as a checkout operator. His father, who labored in banking, suggested him on funding, however the prices, each of inventory and costs, meant Harrison had to save a important quantity earlier than he may purchase shares. 
His first buy, AU$800 in a mining firm, was a success, leaving him with AU$600 revenue. Speaking to UKTN, Harrison defined the impact that had on him. “On the again of my dad’s advice, I made $600. As a 15-year-old, that was twice my month-to-month wage. My response was, ‘My God, passive earnings! I’ve simply saved myself two months of labor!’ That was what obtained me hooked on investing.” 
Harrison studied funding, and labored in banking for a whereas, earlier than shifting to the UK the place he arrange a number of companies earlier than, ultimately, founding Wombat Invest. 
Making funding accessible 
Harrison feels Wombat solves the issues that he confronted as a 15-year making an attempt to make investments, that are nonetheless confronted by anybody taking a look at inventory market investments. There is a excessive barrier of entry, for anybody not well-versed within the inventory market. There are 1000’s of shares, creating an amazing selection, and plenty of have such excessive valuations that these trying to begin or to make investments small quantities may not even have the finances for a single share in some shares. And after that, there are fee and brokerage charges that may catch out the unwary investor. 
The consequence isn’t just that 15-year-old checkout operators have a exhausting time getting in, however profitable professionals typically really feel unable to make investments. Wombat Invest, due to this fact, seeks to work as a gateway to funding. “Wombat is mainly there to resolve the issues I had. So, there are fractional shares, and also you don’t want to pay fee. Then it helps create good habits by way of roundups and month-to-month investments,” Harrison says. It additionally provides one thing to exchange the recommendation and steering he acquired, “We have a lot of in-built studying, identical to my dad helped me. It makes it straightforward for folks as a result of 75% of our prospects have by no means invested.” 
Offering a curated collection of investments, Wombat provides a center floor between platforms that supply simply a few funds and those who present unfettered entry to the 1000’s of shares being traded on numerous markets. While no funding is assured, it implies that buyers are selecting from shares which have some potential and can search for the names and types they already know and like. 
Plans for worldwide growth 
Fuel Ventures-led Wombat Invest has already witnessed fast progress. Named the fastest-growing funding app by App Radar, the service presently has over 160 thousand customers and is experiencing 15% month-on-month progress. They have raised £4.5 million to date and are actually trying to the long run. Already in dialogue with European- and US-based funds, they hope to launch a £10 million Series A spherical later this 12 months. 
The funding will help deliberate growth into the European market. The funds raised will probably be cut up between advertising and marketing to elevate model consciousness, and the expansion of the crew, Wombat Invest presently has 21, UK-based, employees. 
The intention is to start their European growth early in 2022, focusing on a nation at a time, establishing their providers progressively across the continent. Harrison is eager to reap the benefits of the expansion of the funding market. “There’s a lot of recent customers coming into the market. We really feel there’s a huge alternative over the subsequent three years.” 
Despite the standard of his service and app for buyers, Harrison can be eager to spotlight the academic advantages it supplies, a reflection of the teachings he acquired from his father. “We suppose Wombat’s a nice platform to get new buyers onboard,” he says. “It can educate them a little bit about investing, get them into themes after which get them into particular person shares. It’s a good way for folks to begin investing.” 


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