Simply Wall St offers an automated financial-advisory platform with tailored dashboards, toolkits, personalized portfolio analysis and stock recommendations, and institutional-quality financial data delivered at lower cost. The company closed a $1.8 million (A$2.4M) financing from its own customer base to build out investment advisory services. Over the past year its user base grew from 25,000 to roughly 100,000. CEO and founder Al Bentley cited declining fees and growing retail brokerage tools as drivers of market change and customer demand for more robust advisory services. The raise was led by the firm’s high-net-worth clients rather than traditional venture investors. The company intends to use the funds to expand its advisory offerings and respond to customer requests for more comprehensive services. Simply Wall St presents stock data as visual 'snowflake' infographics that summarise five variables (income, value, future, past, health) to make company analysis intuitive. Founded by Al Bentley with co-founder Nick van den Berg and in beta since November last year after joining AWI Ventures' FinTech accelerator, the product produces over 9,000 detailed infographics daily using data from S&P Capital IQ. The platform has grown to over 11,000 users (up from 3,800 in December), with the UK and US accounting for 75% of users, and more than 2,000 portfolios have been created. Simply Wall St plans to commercialise by developing a native mobile app, beginning monetisation via a freemium model with a paid 'pro' tier, and expanding into the UK and US. The company is preparing marketing and recruitment efforts, trialling a Snowflake Widget API with nabtrade, and building an affiliate scheme and tools for financial bloggers. The new funds will also allow the founders to take a small salary as they move the product out of beta.

Total raised

$2M

Funding rounds

2

Latest round

Series A

Latest activity

Jun 2017