Superhero has closed its latest $15 million capital raise bringing funds banked in 2021 to $40 million.
In a statement acknowledging its accelerated growth, Superhero announced it will use the funds to launch in New Zealand in the first half of next year, while also dipping its toes into cryptocurrency.
“With close to nine million Australians holding shares, the investment sector has never been so primed for disruption,” said Superhero CEO and co-founder John Winters.
“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,” Mr Winters continued.
The fast-growing fintech has raised $48 million since its inception in 2018 and has surpassed 130,000 users after launching its share trading platform in October last year. Its newer superannuation platform, Superhero Super, has seen quick take up with over 2,000 members since the offering 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,” said Mr Winters.
Its latest $15 million raise 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.
Commenting on the trading and super platform’s move into crypto, Mr Winters told InvestorDaily the decision was based on customer demand.
“Our customers have been calling for access to cryptocurrency for a while now, so we are meeting that demand. Accessing crypto through our trusted platform will offer our customers access, which many feel is too complicated despite a range of exchanges already in the market.
“When it comes to what the offering looks like, we’ll hopefully have more to tell you soon,” he said.
While Superhero’s average customer is a millennial, Mr Winters said the company was not necessarily focusing on appealing specifically to younger generations.
“We don’t focus on any specific age when it comes to our customers but we’re glad to support them in reaching their own financial goals.
“In fact, our average customer is in their mid-to-late 30s – often looking to take that next step in their financial journey and grow their wealth for the long term.”
