Public.com, an early-stage company whose founders say they want to democratize stock investing, has brought some notable Hollywood, media and sports figures on board as part owners.
The New York-based startup, founded in 2017, announced a $15 million Series B round of funding co-led by Accel and Greycroft, with participation from Will Smith, J.J. Watt, Sophia Amoruso, Casey Neistat and others.
Public.com’s social-investing app launched in September 2019, letting members buy fractional shares in any publicly traded U.S. company or ETF for as little as $5 with no commissions.
“People see investing in the stock market as a daunting process,” said Public.com co-CEO Jannick Malling. The app’s “social layer enables the first phase of an investing journey — you don’t need to invest $10,000 upfront.”
To date Public.com, which has 35 employees, has raised $24 million in total funding. The company generates revenue from interest on invested cash, stock-lending fees to short-sellers, and rebates on certain transactions.
