Bux operates a suite of trading apps that let users invest in stocks, ETFs and cryptocurrencies with low or no commission pricing (flat €1 fees for certain services, no fees for others). The company runs Bux Zero, Bux Crypto and Bux X (CFDs) and says Bux Crypto—formed after its acquisition of Blockport—is ‘‘very profitable.’’ Bux reports roughly 500,000 customers across the Netherlands, Germany, Austria, France and Belgium and emphasizes a full‑stack, modular tech platform it says enables scale across European markets. The startup plans to use new investment to expand its geographical footprint, tech platform and user services. Founder Nick Bortot is stepping away from the CEO role and COO Yorick Naeff is taking over as CEO, while Bortot remains a shareholder. To date Bux had raised about $35M prior to the latest round and did not disclose a valuation for the new financing. BUX operates a gamified trading app that lets users trade CFDs on stocks, indices, forex and other products with limited leverage and generates revenue per trade. The company has acquired ayondo markets Limited (AML), the back-end provider it previously used, bringing brokering in-house along with a brokerage license and back-end technology. BUX says the AML acquisition will allow it to service other AML clients and add to future revenues. It has grown to a base of over 2 million users in just over four years across nine European countries. The newly raised capital will be used in part to launch STOCKS, a commission-free app for mid- to long-term investing in real shares, which currently has a waitlist of over 100,000 users. Netherlands and Germany will get access to STOCKS first, followed by a broader European rollout. Bux operates a community-based trading app targeted primarily at people with no trading experience and has been rolled out across eight European countries. The app enables real-money trading through a partnership with ayondo Markets Ltd, which is licensed by the UK Financial Conduct Authority and provides coverage under the UK Financial Services Compensation Scheme. Bux has more than 200,000 users from the UK alone and opened pre-registration for an inaugural crowdfunding campaign on Seedrs, offering over one million BUX users the opportunity to own shares. The company intends to use the funds to expand its product lineup and create a full suite of apps by 2020, spanning short-term trading to long-term investing. Bux enforces several risk-mitigation measures—including mandatory diversification, capped losses, a virtual-currency onboarding mode (funBUX), limited leverage, and transparent transaction costs—to prevent irresponsible trading. Bux is an Amsterdam- and London-based casual trading app that gamifies stocks and derivatives trading (via CFDs) and emphasizes social engagement. The product features game-like onboarding and lets users trade in virtual currency before switching to real money or indefinitely. Social features include WhatsApp-style groups for sharing tips and Twitter-like channels to follow other traders. Bux reports 330,000 registered users, roughly 20,000 real-money traders, and says users have processed over $3 billion in trade value. The company plans to use new funding to accelerate growth across Europe, specifically expanding into Germany while continuing in the U.K., Netherlands and Austria. Bux also intends to invest significantly in product development, particularly to bolster its social features, which are already seeing increased engagement. Bux is an Amsterdam- and London-based startup offering a casual trading app for iOS and Android that applies game mechanics to stock trading. The app lets users begin with virtual currency, compete with friends, and transition to real-money investing. CEO and co-founder Nick Bortot says the team prioritized hires with gaming backgrounds rather than traditional finance, and only three of the 20 full-time staff have financial experience. In the 12 months since launch Bux signed up 200,000 users, 79% of whom had little or no prior trading experience. Twelve thousand users have opened real-money accounts and users have traded £1.2 billion in transaction value. The company’s stated mission is to make trading accessible to a much larger market by lowering barriers for novice traders.

Total raised

$114M

Funding rounds

6

Latest round

Equity

Latest activity

Apr 2021