The campaign saw contributions come from 2,074 investors in 34 different countries, with the largest group of backers residing in the Netherlands. The capital was raised within two weeks, with €1.1m having been raised in the first day.
Most of the capital was supplied by new investors, accounting for 75 per cent of the total number of backers and €1m of the equity.
Netherlands-based BUX is an online stock trading mobile app, which is aimed towards first-time investors. Founded in 2014, the company helps to educate new investors, by putting them in a risk-free environment of the real market, before they can access the real platform.
This batch of capital will help the company to expand its product offering as it plans to offer a suite of apps by 2020, ranging from short-term trading, to long-term investing. Over the next year the company plans to work on a long-term investment app, and also launch a crypto app to help make the market less risky for regular investors.
BUX Founder & CEO Nick Bortot said, “We continue to be committed to developing our products in order to improve and enhance their BUXster experience.”
This crowdfund comes just months after BUX closed its Series C round on €10.6m led by Holtzbrinck. Other participants to the round included Velocity Capital and a range of angel investors. Total capital raised by BUX has now reached up to €20.5m, with the company’s Series B, also led by Holtzbrinck Ventures, nabbing €6m last year.
Earlier this month, stock market robo-advisor AlgoMerchant bagged $2m in funding from East Ventures, alongside the platform’s launch. Stock market broker Robinhood launched its own new services, providing users with research and discovery tools on the markets.
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