Investment technology startup Fresh Equities (Fresh) has raised $2.3 million in a deal led by Archangel Ventures. A Fintech founders syndicate of Wisr, Synthetix, and Zip Co Limited also participated in the round.
Following the funding, Wisr CEO Anthony Nantes will join Fresh as an adviser to the CEO.
The Melbourne-based company plans to use the funds to expand its technological capabilities, introduce features to help small-cap company leaders understand and interact with investors directly to help grow their market capitalization. Besides, the company will use the funds to establish an underwriting business, giving Fresh the ability to underwrite transactions for emerging and growth companies.
Founded in 2017 by Ben Williamson and Rhys Davis, Fresh helps at-home investors access a range of opportunities, generally reserved for large funds, from ASX 100 companies such as NAB to high growth ASX300 companies such as Wisr and Zip Co Limited. It has also supported a wide range of small-cap and micro-cap listed stocks.
Fresh claims to combine its proprietary technology and strategies used by large investment houses to empower investors and companies.
The company has enabled over 1,000 transactions and provided companies access to a combined total of $450 million, leading to its volume increase by 15x in two years.
“…we entered the market at the perfect time — when investors were getting frustrated by the traditional, closed room approach to raising capital, and when companies were looking for innovative ways to connect directly with their shareholder base.” Ben Williamson, CEO, and co-founder of Fresh Equities said in a statement.
Hundreds of thousands of new investors have entered the market through existing and emerging trading platforms over the last two years. Meanwhile, Williamson said that existing investors increasingly want access to more opportunities, adding that this fragmentation of investor attention means companies need to think differently to connect with their investors.
Ben Armstrong and Quentin Wallace, Co-founders of Archangel Ventures, said, “… Fresh brings order and ethics to the chaos of listed fundraising in Australia using smart technology to unlock an unloved corner of the fintech universe; for investors.”