Stake Completes $90 Million Funding Round
Stake announces the completion of a $90 million Series-A funding round — boosting its mission to break barriers for ambitious investors.
Sydney, Australia, 3 May 2022 - Stake, the investment platform that breaks barriers for ambitious investors, has today announced the completion of a $90 million funding round, as it embarks on its next phase of growth.
“In an environment where many online brokers are facing headwinds, Stake has continued to go from strength to strength. The growth in our customer numbers and asset base continue to outpace last year and we’re blown away, given it has been a much tougher macro environment. This is a vote of confidence from both customers and investors in what we have delivered and what we are building towards.” says Stake Founder and CEO Matt Leibowitz.
Having announced an initial $40 million Series A funding round in May 2021, the Series A extension announced today equips Stake with an additional $50 million to execute on its mission to break barriers for the modern investor — and culminates in the largest-ever Series A fundraising for an Australian fintech at $90 million. The Series A included renowned investors Tiger Global and DST Global Partners.
“This funding allows us to further deliver on our mission to provide unrivaled access for current and next generation investors. We continue to receive interest from other global investors as they see the impact Stake continues to make in the market.” Leibowitz added.
Founded by Matt Leibowitz and Dan Silver in Sydney in 2017, Stake pioneered $0 brokerage for U.S. stocks in Australia. In late 2021 it launched a market leading ASX platform with $3 CHESS-sponsored trades.
“We're excited to be part of what Stake is building and to support the company in the next phase of its journey. From day one, we’ve been impressed with the team’s focus on better customer outcomes and the innovative ways they connect their customers to the markets.” said Alex Cook, Partner, Tiger Global.
ENDS
About Stake
Since its launch in 2017, Stake has amassed over 500,000 customers, and more than $2 billion in funds under administration. This has been achieved by spearheading U.S. trading with Australia's first commission-free model, plus the $3 CHESS-sponsored trading for ASX shares. For more information visit hellostake.com.