Australia-based Simply Wall St has closed its Series A on $1.8m from its user base of 100,000 retail investors.
The company is an automated SaaS platform for the stock broker industry, helping to provide users with actionable, researched information on stocks.
Simply Wall St compiles the data into infographics to help investors identify investment opportunities based on preferences and personalised portfolio analysis.
This capital will be used to develop the portfolio side of the product and expand the platform globally.
Simply Wall St founder Al Bentley said, “We were planning to do a classic VC round, but after announcing the fundraise we were absolutely overwhelmed with the interested from our users.
“They believe in the power Simply Wall St gives to the retail investors so much that they are willing to invest their own money to support us. The demand was much stronger than what we could accommodate. It is amazing to have such a supportive user base and we are very grateful to them.”
Total funding raised by the company has now reached around $2.5m.
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