Total amount raised
$70.3 Million
Latest funding date
4/1/2022
Location
Stake has successfully raised funding over three rounds, with notable investors such as DST Global, Tiger Global Management, and Hedosophia. The platform offers a range of financial services, including stock market investing and self-managed super funds (SMSFs).
Keep reading to explore the intricacies of Stake's fundraising journey and the investors backing this innovative platform.
What Is Stake?
Stake, founded in 2017, is an online brokerage platform based in Sydney, Australia. The company operates in the financial services, personal finance, software, and trading platform industries.
With a team of 101-250 employees, Stake has redesigned investing for Australians, offering services such as stock market investing, self-managed super funds (SMSFs), and income funds. The platform is known for its low brokerage fees, CHESS sponsorship for ASX stocks, and extended trading hours for U.S. stocks.
How Much Funding Has Stake Raised?
- Seed Round
- Amount Raised: USD 3,500,000
- Date: August 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: This initial funding likely aimed to kickstart the company's operations and product development.
- Series A Round
- Amount Raised: USD 40,000,000
- Date: May 2021
- Lead Investors: Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: This round was likely intended to support Stake's rapid growth, expand its customer base, and enhance its platform's capabilities.
- Series A Round
- Amount Raised: USD 50,000,000
- Date: April 2022
- Lead Investors: Hedosophia, Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: The motivation behind this round is to propel Stake's growth further, particularly as it prepares to launch cryptocurrency trading and expand its services.
Total Amount Raised: USD 93,500,000. Current Valuation: Not publicly disclosed.
Key Investors
- Hedosophia
- Details: Hedosophia is a venture capital firm that invests in technology companies. They are known for backing high-growth startups in various stages of development.
- Investment Focus Areas: Technology companies.
- Notable Investments: Not publicly disclosed.
- Tiger Global Management
- Details: Tiger Global Management is an investment firm that focuses on public and private companies in the global Internet, software, consumer, and financial technology industries. They have a strong track record of investing in high-growth companies worldwide.
- Investment Focus Areas: Global Internet, software, consumer, financial technology.
- Notable Investments: Facebook, LinkedIn, Spotify.
- DST Global Partners
- Details: DST Global Partners is a prominent venture capital firm that invests in internet and technology companies. They often focus on late-stage investments in high-growth companies.
- Investment Focus Areas: Internet, technology.
- Notable Investments: Facebook, Twitter, Alibaba.
What's Next for Stake?
Stake is poised to capitalize on the burgeoning interest in cryptocurrency trading, with plans to introduce a platform featuring an estimated 100 cryptocurrencies. This move aligns with the growing trend of retail investing, particularly among younger generations. The company’s rapid expansion, evidenced by a 500% growth in its customer base, underscores the vast potential of this new venture.
Future fundraising opportunities seem likely as Stake continues to scale its operations and expand globally. The company’s ambitious plans may necessitate additional capital to support technological advancements and market penetration. However, navigating regulatory landscapes and maintaining customer satisfaction amid rapid growth could present significant challenges.
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