Micro-investing platform Wombat has appointed Jeremy Larsson as Chief Revenue Officer and Head of Partnerships as the business seeks to accelerate its growth plans following the close of its Series A funding round in August.
The firm writes that Larsson has a wealth of experience launching product and service propositions for leading incumbent banks and finTechs globally including CurrencyFair, John Lewis Finance, Barclays, SunLife, Telegraph Financial Services and Royal Bank of Scotland Group.
For Wombat, Larsson takes on responsibility for strategic and revenue partnerships to support Wombat’s rapid growth, marketing and sales, product development strategy and forthcoming international expansion.
His appointment follows the close of Wombat’s Series A funding round, which was led by long time backer Fuel Ventures, in addition to the highly successful crowdfund of GBP4.2 million, which exceeded target by over 300 per cent, the firm says.
Since its inception, Wombat writes that it has experienced rapid growth providing younger, less experienced, investors access to its range of theme-based ETFs and curated UK, US and EU fractional shares.
It was recognised by App Radar as the fastest growing investment app in 2021 after registering the largest annual increase in downloads in the UK.
With the Series A funding now in place, Wombat writes that it will accelerate plans to expand internationally – first into Europe, where it estimates it has a total addressable market of 100 million users – and increase its investment in marketing and product development.
“Wombat is scaling quickly as we continue to attract new investors and the appointment of Jeremy will help us build new partnerships and revenue streams to support our growth and further enhance our service and product proposition,” says Kane Harrison, CEO and co-founder of Wombat.
“Wombat has a clear mission to encourage more people to save and invest for their futures and with our funding now secured we are excited to take the next steps on our journey. Jeremy will be pivotal to the development of our proposition domestically and internationally and we look forward to welcoming him to the Wombat team.”