Robo investing app and fintech start-up Wombat Invest has brought in two senior executives with plenty of previous experience to assist with their ongoing expansion efforts.
Iqbal Gandham, former managing director of eToro, and David Davies, former chief information officer at Hargreaves Lansdown, are both joining Wombat’s advisory team ahead of a £10 million funding round.
Commenting on their arrival, CEO and co-founder, Kane Harrison, said: “We’re fortunate to have a stellar team of advisers, and David and Iqbal will further enhance the wealth of knowledge we have around us as we continue to rapidly scale the business.”
Both the funding round and their new advisory executives form the basis with which Wombat plans their expansion into Europe.
Wombat’s current growth and ambitions are impressive considering it only launched in 2019
Despite launching just two years ago, Wombat Invest already has more than 160,000 users on their platform and claims to be the cheapest UK platform for ISA investors buying individual shares. Their current annual management fee is just 0.1% and they charge a subscription fee of £1 a month.
Wombat let you invest with as little as £10, also allowing you to purchase fractional shares, thus giving you the opportunity to invest in some of the world’s largest companies without having to buy a full share.
And they let you put your money into what you care about. They have an impressive total of 26 different investment themes available, from “The Foodie” to “The Gamer”, and “Women in Power”.
Despite the impressive list of features already present, Kane Harrison also took the opportunity to tease some new additions to the app, saying that the funding will “help us launch and market some exciting and unique new products and features.”
Wombat are hoping that both their existing and future features will be enough to see them stand out on the highly competitive European investment market.
Wombat is currently ranked at number 10 on our list of the best investment apps in the UK, and have the potential to rise higher depending on the performance of the new features they plan to introduce.