Stake secures A$50m to seize market share

Chief executive Matt Leibowitz says his platform is not facing the same decline as some competitors. (Photo: supplied)

Thu, 28 Apr 2022

Retail investment platform Stake has been handed another A$50 million (NZ$54.6m) to fund its efforts to capture the growing market of DIY share traders.The Australian-owned platform has more than 50,000 customers in New Zealand and in excess of 500,000 customers globally. That’s up roughly 50% from 330,000 users it reported were on its books when it raised money last May.This means it is roughly the same size as local firm, Sharesies, which was recently given a valuation of NZ$500 million from its own NZ$50m raise in October last year.Sta...

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