Stockpile raises $30m in Series B funding round
Written by Anthony Strzalek
Stockpile, a Millennial-focused brokerage has raised $30 million in a Series B funding round led by Fidelity backed Eight Roads Ventures.
The latest investment in the fractional stock trading firm brings the total raised by Stockpile to more than $45 million. Mayfield, Arbor Ventures, Hanna Ventures, Wang Ventures, and others also participated in this latest investment.
Mayfield indeed led Stockpile's $15 million Series A funding round in October 2015, with participation by Arbor Ventures, Stanford University, and actor Ashton Kutcher. Stockpile will use the new funds to bring stock investing to more Millennial customers and expand its features.
Avi Lele, Stockpile's founder and CEO, said: “We're on a mission to make it simple for everyone – especially young, first-time investors – to save and invest for their future. Fractional shares make market investing fun, easy, and personal. Even someone with only a few dollars can buy a piece of a favourite brand.”
David Milstein of Eight Roads Ventures, added: “Stockpile has had tremendous success in attracting the next generation of investors. Their innovative approach takes the mystery out of stock investing and opens up access to all. They have put the stock market on a gift card.”