Investing platform Public.com revealed Monday that it has secured $135 million in its latest funding round, comprising $105 million in equity and $30 million in debt.
Investing Platform Public.com Secures $135m in Latest Funding Round
The company revealed the news in a post on social publishing platform Medium.
They said the Series D-2 round was led by Accel, a longstanding partner that has led or co-led every Public.com funding round since it launched in 2019.
Initially known as a “social stock trading app,” Public said it has now evolved into a comprehensive platform offering five asset classes, advanced research tools, and portfolio management features.
The company’s AI-powered research agent, Alpha, has been particularly impactful, with over 90% of users leveraging it for real-time market insights. Notably, the firm said that 25% of Alpha-driven interactions result in a trade within three hours.
“Our business attracts billions in deposits annually, and most customers are consolidating their investments with Public, making our platform their primary portfolio,” said Public.
The firm’s core brokerage business is already profitable, which they state is backed by 10 revenue streams and an expanding suite of products, asset classes, and AI features.
Looking ahead, Public aims to capitalise on a transformative generational wealth shift, stating that $70 trillion in assets is expected to be inherited “by a generation of digital natives” by 2045.
The platform is positioned to serve digital-native investors who prefer self-directed strategies over traditional financial advisors.
Co-founders Leif Abraham and Jannick Malling commented: “The US public markets have been the greatest wealth-creation machine in human history.”
“Public exists to give people every opportunity to grow their wealth.”
With this latest funding, Public is poised to accelerate product development and solidify its place in the industry.
