Public.com is a New York-based fintech startup and a commission-free stock brokerage firm that enables companies and individuals to buy public stock with any amount of money. Public.com aims to accelerate all people’s prosperity. Unlike other brokerage firms out there, what makes Public.com different is the idea of not just having a brokerage platform but also making the stock market social via its investing social network.
To further grow its platform, today, Public.com announced that it has raised $65 million in Series C funding. This comes eight months after the company’s $15 million Series B fundraise, bringing the total funding to date to $90 million. The round was led by Accel, with participation from Lakestar and previous investors Greycroft and Advancit Capital, and others.
Founded in 2018 by Jannick Malling, Matt Kennedy, Peter Quinn, and Sean Hendelman, Public.com is the investing social network where members can own fractional shares of stocks and ETFs, follow popular creators, and share ideas within a community of investors. Public.com makes the stock market an inclusive and educational place, with social features that make it easy to collaborate as you build your confidence as an investor.
With the additional funding, the company plans to double-down on its people-first approach to investing.
“We couldn’t be more thrilled about our investment in Public.com and the potential this company has,” said Alex Pall, partner at MANTIS VC and member of The Chainsmokers. “We’re all about community and Public’s social focus makes the stock market a more inclusive space where everyone can get educated and excited about investing.”
The new capital comes during a time in which people are seeking new ways to learn about and experience the stock market. Public.com’s community of investors has grown 10x since its launch in September 2019 and is approximately 40 percent women.
“Our mission to change the culture of investing is resonating with a new generation of investors who value collaboration over competition,” said Leif Abraham, co-CEO of Public.com. “By building the social network for investing, we’re giving people a place to share ideas and discover new ways of thinking in the same place they invest.”
This culture-shift is evidenced by the roster of high-profile Wall Street outsiders who have joined the community, including skateboard legend Tony Hawk, who participated in the latest round.
“The stock market has historically been an intimidating place reserved for a lucky few. As technology continues to disrupt barriers, Public.com is creating a platform that makes investing accessible to everyone; while providing a place where they can share ideas and build their confidence as they build their portfolios,” Hawk said.