Press release – for immediate publication
Stockflare is the first FinTech startup to gain an investment pledge from the London Co-investment Fund, as it raises seed capital on Crowdcube
**London, 24th August 2015 ** - Stockflare, the London-based startup making it easier for private investors to pick stocks that are right for them, today opens to the public a campaign on Crowdcube to raise £300,000 of seed capital to develop the service further and extend its customer base. The campaign has already secured the first pledge ever from the London Co-investment Fund to a FinTech startup, providing £75,000 conditional on the full £300,000 target being achieved. As the campaign goes public today on Crowdcube, the total raised has already passed £155,000, more than 50% of the target, through investment made by friends and family of the business.
The London Co-Investment Fund (LCIF) was founded and is managed by Funding London and Capital Enterprise. It has raised £25m from the Mayor of London’s Growing Places Fund to invest in high growth tech, science and digital startups in London. Stockflare is the first FinTech startup to gain the pledge of funds from LCIF.
Stockflare provides – free of charge – uniquely clear and insightful information about more than 45,000 stocks listed on exchanges around the world. Its mission is to make it easier than ever for private investors to find the stocks that are right for them, by providing extensive analysis that can be readily understood and used by investors of any experience level.
The business was founded by CEO Shane Leonard, a highly experienced and award-winning equity analyst, who was frustrated watching small investors pay too much for poor performing funds. Funds run by investment managers who get paid regardless of how they perform.
Shane Leonard said: *“The concept of Stockflare came to me after years of watching small investors pay high charges but get mediocre, not superior returns. Unfortunately, most fund managers fall short of their benchmark, consistently. Through my experience working in equity markets I knew that with the right tools, most investors can look after their investments as well as the professionals would, but at a fraction of the cost. Stockflare delivers those tools to small investors around the world for free.
“The result is easy access to the information that is most important, delivering significantly more usable financial data for small investors. We cut through the self-serving and patronising rhetoric of the fund management industry that has become rich making the public believe they would be lost without the help of the professionals.
“The support shown by the first ever pledge by LCIF for a FinTech business and the money already committed before the campaign went public today shows that there is a thirst out there to back a startup who’s mission is to help everyone improve how they invest. We are excited about welcoming more investors to complete the round and then delivering a business that can continue to support their investment decisions over the years ahead.”*
Through its beta phase, Stockflare has already recruited over 10,000 users across the UK, USA and other countries across the globe. The site has been honed and developed further with feedback from these users, based on their real-world experience of using Stockflare.
Stockflare provides all its data and investor tools for free. Its business model is to partner with high-quality low-cost brokerage firms in key markets, including the UK and the USA. These partners’ services integrate directly into Stockflare’s website, so users can open accounts and manage their investments via Stockflare. Stockflare’s first brokerage service will launch in the autumn, enabling anyone in the world to open a US brokerage account.
For further information, please contact Shane Leonard of Stockflare on +44 78 0154 9537 or firstname.lastname@example.org, Divya Jain of the London Co-investment Fund on +44 20 7043 0739 or email@example.com and Becca Lewis of Crowdcube on +44 1392 241 319 or firstname.lastname@example.org.
Notes for Editors
- For more details on the fundraising please visit Crowdcube at https://www.crowdcube.com/investment/stockflare-limited-19320
- Stockflare is an information company focused on delivering objective financial data to small investors.
- Our primary data partner is Thomson Reuters
- Stockflare is incorporated in England (company number: 08522490)