Micro-investing platform Wombat has raised over £4 million in a Series A funding round.

The FinTech, which was launched in 2019, provides a mobile investing app on iOS and Android.

The company's core customers are novice investors, who use the platform to access its theme-based exchange-traded funds (ETFs) and curated UK, US, and EU fractional shares.

The mobile-first platform said that it would use the funding to support its growth plans, product launches, and international expansion.

“Wombat has come a long way in the last three years and closing this funding round is another key milestone on our journey to help more budding investors embrace the habit of saving and investing for their futures,” says Kane Harrison, chief executive and co-founder of Wombat. “Against a hugely challenging macroeconomic backdrop, we felt it was appropriate to seek funding with a fair valuation and we feel our decision was rewarded with a raise that will help us achieve our immediate goals in terms of growth, expansion into Europe and product development.”

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