Stockpile, a financial learning platform for kids and parents, has acquired the talent, technology, and IP of Investables, an alternative investing platform. In a statement, the company said providing customers with access to the alternative investing expertise of Investables, along with existing access to securities markets available through Stockpile Investments, further expands the array of investing – and learning – opportunities for Stockpile’s growing customer base of young investors and their parents.
The deal includes Investables’ technology, IP, and team, including several key executives, including founders Dmytro Lokshyn, Oleh Shkinder, and Victor Shalhinov. Integrating the Investables platform will enable Stockpile to begin offering alternative assets to its users later this year. The company chose to acquire Investables after noticing strong demand from young investors for the ability to invest in alternative assets.
“We continue to see a great deal of interest in alternative investments, particularly collectibles such as sneakers, from our investing community and are very excited about the impact that the Investables team and its leading-edge alternative investment platform will bring to Stockpile and our mission to revolutionize financial education for children and families,” CEO Victor Wang said.
The company’s research suggests that children are more comfortable investing in things with which they are familiar. And while stocks of companies and brands that kids regularly interact with are an important part of that, physical assets such as Air Jordan 13s, the first issue of the original Amazing Spider-Man comic book or an autographed Patrick Mahomes football, among others, make investing more tangible.
The Stockpile Foundation, a charitable non-profit organization dedicated to the financial independence of underserved communities, has received initial funding for its grants and education programming from Adobe and other contributors.
Stockpile added several senior hires with extensive fintech expertise to further build out its C-suite and executive leadership capabilities across operations, product development, marketing and compliance. New additions include president and CEO Christopher Mates, executive vice president of product Bobby Rahmanian, director of operations Alvin Ortiz, and marketing director Jared Gage.
“With these new capabilities and talent, Stockpile is ready to further its mission of revolutionizing financial education for the next generation of investors,” said Wang.