Investors back British Robinhood rival after GameStop frenzy
There s a rush of funding for British apps that let people invest their savings
8 February 2021 • 7:00am
Fractional investing business Wombat has raised £2m as more Britons than ever before have become interested in purchasing shares in businesses.
The company allows its 62,000 customers to buy shares in individual businesses such as Tesla or to invest in funds matched to their personality and investment interests.
Lockdown has driven a rise in interest, said chief executive Kane Harrison. “It started last year just before Covid,” he said, “that s when we started to see massive growth. People were at home so they were starting to have a lot more disposable income. We saw a massive uptick then. It has gone all the way through and continued to today.”