Irish investing app maker Rubicoin has secured a €1.4m funding round from Enterprise Ireland and investment advisor Motley Fool. The round brings the startup’s total funding to more than €5m to date.
Rubicoin operates two apps: Invest, which is designed to simplify investing, and Learn, which provides teaching tools to guide investing beginners.
The company claims that rather than advising what shares users should buy it hand picks a small selection of the 7,000 businesses listed in the US based on a mythology it says beats the S&P500 by about 25% in the long term.
Rubicoin counts half a million users of which it says 20% are active monthly with 70,000 new signups for Learn in the past month alone.
A premium version of the Invest app offering access to additional stocks is available for €6.99.
The funding will be used to expand the team from 13 and roll the app out to more markets.
Rubicoin currently operates in the US and Canada with Australia next on its road map before the UK.
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