ASX trading app Superhero to soar overseas on $15m capital raise

ASX trading app Superhero to soar overseas on $15m capital raise

Superhero co-founders John Winters (CEO) and Wayne Baskin (CTO) (provided).

Australian ASX trading app Superhero is planning on expanding internationally on the back of a $15 million capital raise that will also enable it to add new features including cryptocurrency trading.

This latest capital raise takes the total funds raised by Superhero to $48 million since inception in 2018, with $40 million raised in 2021 alone.

The round was led by Perennial Value Management and included other high-profile investors including Regal Funds Management, Ophir Asset Management and Alex Waislitz’s Thorney Investment Group.

Co-founded by CEO John Winters and CTO Wayne Baskin in 2018 and launched in October 2020, the fast-growing fintech has already attracted more than 130,000 users.

Its newer superannuation platform, Superhero Super, has seen quick uptake too, with more than 2,000 users jumping on board since it launched in late July 2021.

“Superhero has grown so quickly since we launched a year ago and every day we get closer to accomplishing our mission to support all Australians in their investing journeys,” Winters said.

“It’s hard to believe that it’s been a year and while we’ve had a huge amount of success already, we’re just getting started.” 

The company says the $40 million raised this year will support the group’s ambitious growth plans, both in terms of developing and adding more to the platform for customers as well as geographic expansion.

“With close to nine million Australians holding shares, the investment sector has never been so primed for disruption,” Winters said.

“While we’ve had a big year, there’s still a lot of room for growth. New Zealand is a priority market for us and we’re working hard to launch across the ditch in the coming months.

“We’ve had great success with developing an offering to make investing easier for Australians and we’re excited to develop Superhero to support investors from around the world (starting with Asia-Pacific) in the year to come. Given the scalable nature of our platform, we’re well supported for future growth – both within Australia and globally too.”

The Sydney-based company says its team has grown by more than 300 per cent year on year, enabling it to develop and launch of new products for customers, including a proposed cryptocurrency trading feature.

“Our engineering team has consistently grown as we look to expand our offerings to customers including cryptocurrency. We know that crypto is something our customers are very interested in and it has always been our priority to provide one platform for Australians to manage their wealth,” Baskin said.

“Beyond this, our goal is to facilitate seamless, instantaneous transactions – both from a global and local perspective (when trading both ASX and US assets).

“We know we have an incredibly engaged customer base so investing in partnerships will be a key part of our strategy moving forward to continue to offer the best service and platform to Australians.”

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