Wombat taps advisors from Revolut, Hargreaves, eToro for European expansion

Rick Steves

“The advice and guidance of our expert advisors has been instrumental in the growth of Wombat so far and we are delighted to welcome Chad to the team as we prepare for the next stage of our development.”

Wombat wants to expand across Europe and launch new products and features in 2022. A strong and knowledgeable advisory team will come in handy to achieve those goals successfully.

The micro-investing platform has thus appointed former Revolut communications director Chad West to its advisory board in a move that follows the addition of ex-Hargreaves Lansdown CIO David Davies and ex-eToro Managing Director Iqbal Gandham.

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Fastest growing investment app during the pandemic

The advisory deals were announced as the London-based startup undergoes a Series A funding round in order to fuel its European expansion plans and new products launches.

“Wombat has proven that it is one of the most exciting new investment platforms in the UK and has laid the foundations for a very bright future. It has a compelling proposition, a fantastic user journey and a brilliant team in place, and I look forward to working with them as they continue to build on all of the great work they’ve achieved to date”, said Chad West.

Wombat has recently registered 200,000 users in the investment platform, a sign that the startup is meeting the needs of its target audience. Now, the goal is to achieve the same kind of success in the European continent.

The broker is recording a 15% quarterly rise in new clients, having been the fastest growing investment app based on number of downloads during the pandemic, according to App Radar.

Wombat targets retail traders

Launched in 2019, the trading platform targets novice investors who flock to access its range of theme-based exchange-traded funds (ETFs) and curated UK, US and EU fractional shares.

The pandemic has accelerated the trend of the retail segment and Wombat has strengthened its offering by cutting its annual platform charge to just 0.1% since July 2021.

Kane Harrison, CEO and co-founder of Wombat, said: “There is huge demand from consumers for mobile-first platforms that make it easy to invest. Our mission is to support and encourage as many people as possible to start investing by making it simpler, cheaper and fairer.

“We are proud of how many new investors have chosen Wombat to manage their money and are fully committed to ensuring they have all the tools and knowledge to continue to invest in the way that they want.

“The advice and guidance of our expert advisors has been instrumental in the growth of Wombat so far and we are delighted to welcome Chad to the team as we prepare for the next stage of our development.”

 

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