|
Sharesies
Sharesies is a New Zealand stockbroker and micro-investing app that allows users to buy and sell fractions of shares on the stock market rather than requiring users to buy or sell entire shares.[1] It was launched in 2017. As of 2024[update], it had 700,000 clients in New Zealand and Australia. HistoryThe company was founded by Richard Clark, Ben Crotty, Brooke Roberts, Leighton Roberts, Martyn Smith and Sonya Williams in 2017.[2][3] The founders were working corporate jobs as they started the company, and pitched it to a business accelerator programme run by Kiwibank and Creative HQ.[4][5] The platform saw a big rise in the number of users during the COVID-19 pandemic starting in 2020.[6] By 2022, Sharesies reached 500,000 users, meaning that about 11 per cent of the country's population used the platform.[7][8] By late 2024, Sharesies had 700,000 users in New Zealand and Australia and was managing $5 billion invested by its users.[1] During the last quarter of 2024, about $3.1 billion was traded using Sharesies.[4] In 2021 Sharesies started allowing Australian clients to use the platform, and also allowed users to trade on the Australian Securities Exchange.[9] In 2023 Sharesies launched no-fees savings accounts.[10] In 2024, Sharesies bought the Auckland-based investor management platform start-up Orchestra.[11] That year the company started allowing users to trade shares of the Fonterra co-operative, which can only be traded by dairy farmers. Sharesies has suggested that they may allow trading of shares of other co-operatives on the Unlisted Securities Exchange such as Zespri in the future.[12] In 2020, Sharesies raised $25 million, including from Trade Me, Icehouse Ventures and Stephen Tindall' company K1W1. In 2020 the largest shareholders were Trade Me (15.4 per cent) and Discount Nominees (9.5 per cent). Co-founders Brooke Roberts, Leighton Roberts and Sonya Williams each owned 6.26 per cent.[13] A funding round in 2021 valued the company at $500 million.[1] Williams has said that her first ever investment was on Sharesies, because she did not have enough capital to use the more traditional means of investing.[8] See alsoReferences
External links
Information related to Sharesies |
||||||||||||||||||||||||||||||||||||||||
