Public.com, the social stock-investment app startup, tapped more celebrity backers for its $65 million Series C funding round. Among those are pro skateboarder Tony Hawk and EDM-pop duo the Chainsmokers, through their Mantis VC fund. The latest round comes eight months after the company’s $15 million Series B fundraise, which included participation from Will Smith’s Dreamers VC and Girlboss founder Sophia Amoruso. The company has raised $90 million in total funding to date.
Launched in September 2019, Public.com is designed to make investing in the stock market simple and affordable for ordinary people. Members are able to buy and sell fractional shares of stocks and ETFs, as well as follow popular creators and share ideas within a community of other investors.
“The stock market has historically been an intimidating place reserved for a lucky few,” said Hawk in a written statement. “As technology continues to disrupt barriers, Public.com is creating a platform that makes investing accessible to everyone, while providing a place where they can share ideas and build their confidence as they build their portfolios.”
Public.com is operating in a market with incumbents, such as the publicly traded E*TRADE and Robinhood, and that has generated investor attention. One recent example is San Francisco-based social investment platform CommonStock, which announced $9.7 million in seed funding in August.