Sharesies: The Evolution of an Investment Platform
Founded in 2017, Sharesies emerged as a disruptive force in the financial technology sector, aiming to make investing accessible to a broader audience. The company was established by a team of six founders: Richard Clark, Ben Crotty, Brooke Roberts, Leighton Roberts, Martyn Smith, and Sonya Williams. While maintaining their corporate careers, the founders launched the venture by pitching it to a business accelerator program managed by Creative HQ and Kiwibank.
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Rapid Growth and Market Expansion
The platform experienced a significant surge in adoption during the COVID-19 pandemic beginning in 2020. This growth trajectory continued steadily, with the user base reaching 500,000 by 2022—representing approximately 11 percent of New Zealand's population. By late 2024, the platform expanded its reach to 700,000 users across both New Zealand and Australia.
The scale of the platform's financial activity is equally notable. By late 2024, Sharesies was managing $5 billion in user investments, with approximately $3.1 billion traded during the final quarter of that year alone.
Strategic Diversification and Acquisitions
Sharesies has consistently expanded its service offerings to provide more comprehensive financial tools. In 2021, the company opened its platform to Australian clients and integrated trading capabilities for the Australian Securities Exchange (ASX). This was followed by the launch of no-fees savings accounts in 2023.
The year 2024 marked a period of strategic expansion. Sharesies acquired Orchestra, an Auckland-based start-up specializing in investor management platforms. Additionally, the company began allowing users to trade shares of the Fonterra co-operative—securities typically restricted to dairy farmers. Looking ahead, the company has indicated the possibility of enabling trades for other co-operatives on the Unlisted Securities Exchange, such as Zespri.
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Funding and Valuation
To fuel its growth, Sharesies secured $25 million in funding in 2020. Key investors included Icehouse Ventures, Trade Me, and K1W1 (the company owned by Stephen Tindall). As of 2020, the largest shareholders were Trade Me at 15.4 percent and Discount Nominees at 9.5 percent, while co-founders Sonya Williams, Brooke Roberts, and Leighton Roberts each held a 6.26 percent stake.
The company's market value saw a substantial increase shortly after, with a 2021 funding round valuing Sharesies at $500 million.
Key Facts
- Founded: 2017 by six co-founders.
- User Base: 700,000 users across New Zealand and Australia by late 2024.
- Assets Under Management: $5 billion by late 2024.
- Trading Volume: $3.1 billion traded in Q4 2024.
- Company Valuation: $500 million as of 2021.
- Key Acquisition: Purchased investor management platform Orchestra in 2024.
| Year | Milestone / Metric | Detail |
|---|---|---|
| 2017 | Foundation | Launched via Kiwibank and Creative HQ accelerator |
| 2020 | Funding | Raised $25 million |
| 2021 | Valuation & Expansion | Valued at $500 million; entered Australian market |
| 2022 | User Growth | Reached 500,000 users (11% of NZ population) |
| 2023 | Product Launch | Introduced no-fees savings accounts |
| 2024 | Scale | 700,000 users; $5 billion managed |
Frequently Asked Questions
Who founded Sharesies?
The company was founded in 2017 by Richard Clark, Ben Crotty, Brooke Roberts, Leighton Roberts, Martyn Smith, and Sonya Williams.
Which markets can Sharesies users trade in?
Users can trade on the Australian Securities Exchange (ASX) and have access to specific co-operative shares, such as Fonterra.
What is the current scale of the platform?
By late 2024, the platform had 700,000 users in New Zealand and Australia, managing $5 billion in investments.
What was the purpose of the Orchestra acquisition?
Sharesies acquired Orchestra, an Auckland-based start-up, to integrate its investor management platform capabilities.
Are there plans to trade other co-operatives?
Yes, Sharesies has suggested it may allow the trading of other co-operatives on the Unlisted Securities Exchange, specifically mentioning Zespri.