A platform giving young investors access to everyday brands.
Founder: Kane Harrison
Founded: 2017
Website: wombatinvest.com
Founded in 2017 by Australian Kane Harrison, Wombat Invest started with a simple mission – to give younger investors an easy-to-use platform for investing in the brands they love. It’s this innovative approach to investing that has seen Wombat Invest join other exciting businesses in the Startups100 list. No small feat then, for an idea born out of Harrison’s first investment experience at the tender age of 15.
It was on his dad’s recommendation that a then-teenage Kane invested AU$800 in an Australian mining company. This, as it turned out, paid off rather handsomely for him and he made a cool AU$600 in profit. It should be noted that this investment came off the back of money saved from his first job as a checkout operator, where he was earning AU$300 a month.
His early success instilled in him a passion for investing, sowing the initial seeds for Wombat Invest. Before that, Harrison spent time in banking, then moving to the UK where he started several other businesses in the lead-up to launching Wombat Invest.
For Harrison, Wombat Invest is about solving the problems he faced as a teenager trying to invest. Problems that anyone looking to invest, regardless of age, still face today.
Why Wombat Invest though? For Harrison, Wombat Invest is about solving the problems he faced as a teenager trying to invest. Problems that anyone looking to invest, regardless of age, still face today. The difficult entry points for those not already invest savvy, such as grasping the thousands of potential share options, are what keep many people from making the jump into investment.
What Wombat Invest does is give newcomers approachable launchpads for their first investments. Its offer of ‘fractional shares’ means people don’t need to pay any commission either, further removing investment barriers. Indeed, 75% of Wombat Invest’s customers have never invested before.
What Wombat Invest does is give newcomers approachable launchpads for their first investments. Indeed, 75% of Wombat Invest’s customers have never invested before.
Even though its biggest market is new investors, Wombat Invest functions more as a middle ground between those platforms offering very few options, and those offering complete access to the entire market (with the near-endless number of shares that come with that). It provides a selection of curated investment opportunities, with investors able to pick and choose from a selection of brands they already know.
With plans to expand across Europe, Wombat Invest is well positioned to continue its impressive growth. As of writing, Wombat Invest is preparing a £10m Series A to support its expansion. We’ll definitely be keeping a close eye on just where this exciting investment startup goes next!
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