Stake

Based in New South Wales, Australia, and founded in 2017 by co-founders Dan Silver, Jon Abitz, and Matthew Leibowitz, Stakeshop Pty Ltd. trading as Stake, allows customers to trade and lend selected securities listed on the Australian Securities Exchange (ASX) and the New York Stock Exchange (NYSE), as well as fractional interests in those securities in the US. In April 2022, Stakeshop raised USD 50 million in series A funding from new investors Tiger Global and DST Global. Other unspecified investors also participated in the round.

The round was part of a larger USD 90 million series A funding. As of December 2022, the company has a team of 135 people available across Australia, Brazil, New Zealand, and the United Kingdom. Stakeshop provides a trading app for iOS and Android devices that provides instant, fluid access to investment opportunities and includes over 2,000 Australian stocks, ASX ETFs, and stocks, as well as 6,000 US ETFs and stocks. The app includes an AUD and USD wallet, currency transfers, changing between the ASX and Wall Street stock markets, holding stock portfolios in both markets, creating multiple watchlists to monitor share price, full company financials, trades moving the market with market depth, spotting and leveraging time-based trading trends with the course of sales, analyst ratings, and price targets.

Furthermore, the company allows customers to buy and sell cryptocurrencies such as Bitcoin and Ethereum. Stakeshop generates revenue by charging a USD 3 brokerage fee on ASX investments.   The company plans to use the April 2022 funding to hire more engineers and invest in the underlying infrastructure that is plugged into partners, such as its US broker Drive Wealth, its ASX broker Finclear and its in-house SMSF platform.