CASUAL TRADING APP BUX RAISES $1.9 MILLION TO ACCELERATE EUROPEAN ROLL-OUT
London and Silicon Valley based VC Initial Capital invests in FinTech startup that makes stock trading more accessible through gamification
BUX, the trading app that makes playing the financial markets accessible to everybody, has closed a second financing round of $1.9 million to further accelerate growth in new markets across Europe. Since its launch 12 months ago BUX has welcomed over 200,000 users in the UK and the Netherlands. The company has managed to introduce trading to an entirely new audience: 79% of BUX users have little to no earlier trading experience*.
The largest investor of this round was London and Silicon Valley based Initial Capital, a VC with a focus on games that has played a key role in helping fast growth gaming companies like Space Ape, Super Evil Mega Corp and Supercell grow. Initial Capital’s participation endorses BUX’s mission to make the financial markets accessible to everyone by adding a gaming element to trading. The BUX app provides access to the world of trading to a generation that grew up in the age of mobile, games and social networks and is currently disengaged with the traditional concept of trading.
“Making stock trading more accessible through gamification isn’t easy. You need a unique team, consisting of members that don’t naturally find themselves working within each other’s vicinities: people with experience in brokerage and people who are into games. BUX has managed to build such a team. Because of this, and the traction that BUX has shown after just a year, we are genuinely excited to be involved with BUX turning the traditional brokerage sector upside down.”
“BUX is the result of a cross pollination between two different sectors: games and trading, which is an excellent starting point for radical innovation. I’m thrilled that as a fintech company, we can now draw on the knowledge of one of the leading VC’s in the games sector.”
Other investors that participated in this round were fintech VC Velocity Capital and VC 5Square. Fintech VC Orange Growth Capital and BUX’s founders funded the first financing round.
BUX makes it easy and affordable for Europeans to do more with their money through its platforms which oﬀer commission-free investing as well as leveraged trading, all powered by a vibrant community. Since launching in 2014, BUX has made the markets accessible for more than 2 million users across 9 countries in Europe. In summer 2019, BUX will be introducing STOCKS, where users will be able to invest commission free in the brands they care about. STOCKS will launch in the Netherlands, Germany and Austria, followed by a broader rollout across Europe in the coming year. Headquartered in Amsterdam, the Netherlands, the company is backed by Holtzbrinck Ventures, Velocity Capital, Finch Capital and Initial Capital.
Follow BUX at facebook.com/BUXSocial, or Instagram @bux.app or Twitter @bux. To learn more about STOCKS, or to sign up for our waiting list, visit us at www.stocks.getbux.com.