Wombat secures £2m in seed funding led by Fuel Ventures to expand its fractional investment platform.
Fuel Ventures led the seed round to help the platform develop new features and expand its product range.
Wombat operates a mobile-first fractional micro-investing platform designed to give users access to themed funds and individual shares. The company provides retail investors with tools such as automated investing features and instant accounts.
Wombat has secured £2m in a seed funding round led by Fuel Ventures to expand its platform offerings and support consumer demand for fractional shares trading. The investment will enable the company to introduce new features, such as instant deposits, while opening up stock market access to a younger demographic. Fuel Ventures joins the company board as part of the transaction, alongside continued backing from existing angel investors including Chris Adelsbach and James Moore. Headquartered in London, the mobile first platform has built a user base exceeding 62,000 since its inception in 2019.
From the founder
"A majority of people in the UK and Europe aren’t doing enough to save for their future. With banks providing all-time low interest rates, we have seen appetite for investing grow, many feel overwhelmed with the perceived complexity of handling shares. Our goal is to make investing in the stock market relatable and less scary. With a low starting point of £10, anyone can try it out"
Kane Harrison
CEO and co-founder at Wombat
Investor perspective
"Kane and the Wombat team are breaking open the stock market for everyone and giving young people access to other saving opportunities. We haven’t seen a platform like this in Europe. Wombat is the first to help introduce regular, micro investing into the market – putting people’s concerns at ease by easy investing in things they understand."
Mark Pearson
Managing Partner, Fuel Ventures
Use of funds
- 01Continue product development