Australian Robinhood-clone Superhero has bagged $8m with the aim to disrupt the nation’s online investment industry.
Larry Diamond, founder and CEO of FinTech Zip, led the round, according to SmartCompany. Zip investors Garen Azoyan and Leon Zweir also participated alongside payment instalments startup Afterpay’s founder Nick Molnar.
While Superhero looks a lot like its American rival Robinhood, the founders are adamant that they will be able to offer something unique, given that few stock-trading startups have focused on the Australian market before.
The FinTech startup is also hoping to leverage the generational shift of more millennials coming of age and looking for new ways to make their money work for them.
The founders also pointed out that the coronavirus pandemic has given it an advantage as it has pushed more people to embrace digital solutions.
“It’s just a fortuitous moment for us that we can launch at a point like this,” said John Winters, co-founder and CEO of Superhero, when speaking with SmartCompany.
Again, Robinhood made a similar statement the other month when it raised its gigantic $200m Series G round, which pushed it squarely into the decacorn club thanks to it getting a $11.2bn valuation.
Copyright © 2020 FinTech Global
