Fast-growing micro-investing platform Wombat has launched a new crowdfunding campaign ahead of its international expansion.
The Crowdcube campaign will run for three weeks and has a target of GBP1 million. It will be the first time Wombat has returned to Crowdcube since it launched in 2019.
New shareholders will be joining Wombat as it prepares to launch into international markets including Europe – where it estimates it has a total addressable market of 100 million users – and introduce new products and platform enhancements.
Since its inception, Wombat has experienced rapid growth as novice investors – its core demographic – have flocked to access its range of theme-based exchange-traded funds (ETFs) and curated UK, US and EU fractional shares.
It now has more than 230,000 users and was recognised by AppRadar as the fastest growing investment app based on number of downloads in 2021.
With its success in attracting new users, Wombat has decided to offer investors the chance to own a stake in the company and become members of a shareholder community alongside existing backers including Fuel Ventures.
Kane Harrison, CEO and co-founder of Wombat, says: “We are really excited to be launching a crowdfunding campaign which will give investors the opportunity to invest in Wombat at a very early stage.
“We’ve come a long way in a very short space of time and have big plans for the year ahead. Not only will we introduce new products and features to support users as they become more experienced and confident investors, we will make our first foray into Europe where we see huge opportunities for Wombat to grow.
“We can’t wait to get started and look forward to welcoming our new shareholders on board and sharing our journey with them.”