In the realm of financial technology, Spaceship claims that it is set to transform the investment experience for young Australians.
The company has reportedly “established itself as a visionary in the field but has strategically chosen Alpaca as a service provider to further enhance its offerings.”
Founded in 2016, Australia’s Spaceship has “been at the forefront of changing how young individuals approach and invest their money.”
The company’s legacy is “rooted in a timeline of innovations, starting with the launch of Spaceship Super (a retirement product) in 2017, followed by the introduction of the Spaceship Voyager managed funds in 2018, reaching milestones of 200k customers and A$1 billion in funds under management (FUM) by mid-2021.”
The recent addition of US Investing in September 2023 “expands Spaceship’s offering substantially.”
Founded in 2016, Australia’s Spaceship “has been at the forefront of changing how young individuals approach and invest their money.”
Spaceship continues to listen and “address critical pain points faced by its Australian investors. Current solutions include easy access to US companies and ETFs, the ability to track and buy shares in Australian dollars, centralized management of investment portfolios, and the convenience of setting up automated investment plans for dollar-cost averaging.”
Spaceship offers features such “as buying fractional shares with as little as A$10, seamless search functionalities, and unlimited trades for a low monthly fee instead of a traditional per trade fee.” Suitable for long-term investors, Spaceship provides “a one-stop solution for managing Spaceship Voyager, Spaceship Super, and US investments (with as many investment plans as customers want).”
Spaceship’s decision to partner with Alpaca is “grounded in the Local Currency Trading product; offering Aussie-dollar trading, settlement, and market data.”
This synergy provides “a localized currency experience for Australian customers who wish to invest in the US markets, eliminating the need for complex FX conversions.”
As covered, Alpaca is a developer-first API brokerage platform that’s “raised over $120m in funding.”
Alpaca explains that it “offers stock and crypto trading, real-time market data, and end-to-end brokerage infrastructure through modern APIs.”
Alpaca is backed by ke investors in the industry globally, “including Portage Ventures, Spark Capital, Tribe Capital, Social Leverage, Horizons Ventures, Unbound, SBI Group, Eldridge, Positive Sum, Elefund, and Y Combinator.”
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