StockRepublic gears up and raises SEK 30 million with Avanza's subsidiary Placera Media as the lead investor
Stockholm, June 21, 2023
Placera Media is contributing SEK 15 million after a successful collaboration in which StockRepublic has operated and modernized Placera Media's stock forum since the beginning of the year with good results. The remaining SEK 15 million comes from existing investors and business angels.
– We are very proud to have Sweden's leading savings platform on board, both as customers and investors. StockRepublic has previously raised capital from customers, so it is a proven and successful model for us. This collaboration brings Avanza closer to us in a very positive way and allows us to continue to develop Avanza's platform with exciting new services, says Fabian Grapengiesser, CEO of StockRepublic.
StockRepublic has gained a firm foothold in Germany, the second largest fintech market in Europe, where it has set up a German company, received funding from the city of Hamburg, and won the award for the best financial product of the year for 2023 with the hi!stocks app, which is developed and operated together with comdirect, part of Commerzbank. In the UK, StockRepublic has signed a customer agreement with the country's second-largest investment platform for private investors, interactive investor, and will establish itself there in earnest over the next six months.
– StockRepublic has shown impressive development, both in Sweden and internationally. Placera currently has Sweden's largest stock forum in Placera Forum, and together with StockRepublic, we can further develop functionality and user experience. The investment also includes that we get exclusivity in Sweden on StockRepublic's products, says Johan Kleis, CEO of Placera Media.
– We are pleased that Placera is making this investment. There is fantastic knowledge among our customers, and social trading is an important area for Avanza. Our customers have also requested the opportunity to compare their share portfolios with others, says Rikard Josefson, CEO of Avanza.
StockRepublic's platform for social trading is aimed at banks and other financial players who want to increase the engagement of their customers. Social trading allows investors to benefit from the experience and knowledge of other investors and share their successes and strategies.
For more information, please contact:
Fabian Grapengiesser, CEO, StockRepublic tel: 070-919 90 32, e-mail: fabian@stockrepublic.io
About StockRepublic
StockRepublic offers a social trading platform with customized apps and API services for financial institutions. The platform gives investors access to a community with insights about their savings and benchmarks for return, risk, and climate impact. The company has built successful communities for leading banks in six markets, such as Commerzbank. StockRepublic was founded in 2019 and has offices in Stockholm and Hamburg.
About Avanza and Placera Media
Avanza is a digital platform for savings and investments founded in 1999. Placera Media is a wholly owned subsidiary of Avanza that operates Placera and the magazine Börsveckan. Avanza owns Placera Media, while the company is editorially independent of Avanza. The parent company Avanza Bank Holding AB (publ) is listed on the Stockholm Stock Exchange. Avanza's customer promise is that you, as a customer, will get more money for yourself than with other banks or pension companies. The services include savings in shares, funds, accounts, mortgages, and a strong pension offer. Avanza has over 1.8 million customers with over SEK 700 billion in total savings capital. This corresponds to almost 7 percent of the Swedish savings market. Avanza is the largest among Swedish banks regarding the number of transactions on the Stockholm Stock Exchange. Avanza has won the SKI (Swedish Quality Index) award "The most satisfied savings customers of the year" for the past thirteen years. For more information visit: avanza.se/ir
