The Dutch and UK based trading app BUX has just closed a third financing round, raising $6.9m.
Lead investor of this latest round was Germany based Holtzbrinck Ventures, one of the leading independent European funds for startup businesses. Previous investments for them include HelloFresh, Groupon, Audible and Seatwave. Other participates in this round were Orange Growth Capital and Velocity Capital. Both have already participated in earlier BUX funding rounds.
Holtzbrinck’s Barbod Namini said: “BUX provides access to the financial markets to a generation that grew up in the age of growing distrust of financial organizations. They’re currently disengaged with the traditional concept of investing and trading. BUX successfully appeals to these ‘Millennials’. They do so by making share trading extremely straightforward, by adding social and game elements to make trading more attractive and educational and by offering trading in a very responsible way.”
CEO of BUX Nick Bortot said: “Entering the German market is an important step in our European expansion. That’s why we’re very excited to have top tier German Venture Capital firm, Holtzbrinck, on board as one of our main shareholders. In addition to the European roll out, the funding will help us further improve our customer experience. Since launch, the BUX app has grown beyond trading and has turned into a social platform where users share thousands of tips and tricks every day. We plan to continue to add new and improved trading and social features for our community.”