Stake Secures $30M Funding to Expand Commission-Free Trading to Europe

Stake Secures $30 Million to Fuel European Expansion

Stake, a trading application offering commission-free services, has successfully secured $30 million in funding. This investment comes from Tiger Global and partners at DST Global, a firm based in London.

The capital injection is strategically intended to facilitate the platform’s expansion into the European market. Currently, Stake operates in the U.K., Brazil, and New Zealand.

CEO Highlights Growth and Future Plans

Matt Leibowitz, the founder and CEO of Stake, expressed his enthusiasm regarding this funding round. He emphasized that this represents a significant milestone, but is merely the beginning of their ambitious growth trajectory.

Leibowitz stated the company’s initial goal was to revolutionize investing for individual traders. For the first four years, Stake was entirely self-funded.

Having validated their business model, Stake now has the opportunity to broaden its offerings and extend its zero-commission trading services to a wider audience of retail investors.

Rapid Customer Acquisition

Since its launch in the U.K. in early 2020, Stake reports substantial growth. The platform’s customer base has increased by more than sixfold.

Average monthly customer growth has been approximately 25%, resulting in a global customer base exceeding 330,000.

Pioneering Commission-Free U.S. Market Access

Stake was the first to provide commission-free access to the U.S. stock market for investors in Australia. This allows retail investors to trade over 4,400 U.S. stocks and ETFs without incurring brokerage fees.