Evarvest, a Lithuania-based startup that is preparing to launch a new trading app, has easily topped its €75,000 goal on Seedrs to raise €235,000. Evarvest sold equity in the company at a pre-money valuation of €1.175 million.
Evarvest plans to launch the app later in 2019. The trading platform is expected to allow investors to access 9,600 stocks and ETFs listed across Europe and the USA.
Evarvest was founded in Australia in January 2018 and is now headquartered in Vilnius, Lithuania. Evarvest is a Fintech start-up developing a user-friendly trading app offering easy to use trading services on over 30 of the largest stock exchanges all over the world. The company describes its service as being “Spotify” like.
Evarvest says it will be able to offer its users attractive fees combined with no minimum account balances. The company has already reported it will offer commission-free access to the US stock market.
As an example, the average commission paid with a UK stockbroker to access the London Stock Exchange would be about GBP 10 per stock, while Evarvest’s commission would be about 0.1% of the trade, so on a GBP 100 trade, it would amount to 10 pence.
The app will be made available to investors first in the UK, Lithuania, Spain, Portugal and Poland before expanding to other European markets as well as the USA, Australia and Asia.
Evarvest reports a waitlist of more than 20,000 individuals.
Founder and CEO Stephanie Brennan thanked the 598 investors that have joined their crowdfunding round and are part of their mission to shape the future of investing.
“The support of our new shareholders will allow us to launch our app and continue our global expansion. It will also enable us to lay the groundwork for the second phase of our development – a pension fund for the next generation of investors.”
Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!