Member Article

London market trading app BUX secures $1.9m funding

BUX, the marketing trading app, has closed a second financing round of $1.9m to further accelerate growth in new markets across Europe.

Since its launch 12 months ago, BUX has welcomed over 200,000 users in the UK and the Netherlands. The company, which had its UK headquarters in London, claims it has managed to introduce trading to “an entirely new audience,” with 79% of BUX users have little to no earlier trading experience.

The largest investor of this round was London and Silicon Valley-based Initial Capital, a VC with a focus on games that has played a key role in helping fast growth gaming companies like Space Ape, Super Evil Mega Corp and Supercell grow.

The BUX app provides access to the world of trading to a generation that grew up in the age of mobile, games and social networks and is currently disengaged with the traditional concept of trading.

Shukri Shammas, founder and partner at Initial Capital says: “Making stock trading more accessible through gamification isn’t easy. You need a unique team, consisting of members that don’t naturally find themselves working within each other’s vicinities: people with experience in brokerage and people who are into games.

“BUX has managed to build such a team. Because of this, and the traction that BUX has shown after just a year, we are genuinely excited to be involved with BUX turning the traditional brokerage sector upside down.”

Nick Bortot, CEO BUX: “BUX is the result of a cross pollination between two different sectors: games and trading, which is an excellent starting point for radical innovation. I’m thrilled that as a fintech company, we can now draw on the knowledge of one of the leading VC’s in the games sector.”

Other investors that participated in this round were fintech VC Velocity Capital and VC 5Square. Fintech VC Orange Growth Capital and BUX’s founders funded the first financing round.

This was posted in Bdaily's Members' News section by Ellen Forster .