Seven-year-old investing platform Pearler has raised $16 million in a Series A.
The round was led by existing investor Portage, which also led the company’s $7.8 million Seed raise four years ago, alongside follow-on funding from TEN13, and Altered Capital, private investment fund No Brand, Chris Cuffe’s new Partners Horizon Fund and Eucalyptus cofounder Charlie Gearside also joining the cap table. Gearside has been advising the fintech for the past two years.
Pearler now has more than 110,000 active customers and more than $3.5 billion in holdings across shares, super and first home deposits, 86% of it in ETFs.
Cofounder and CEO Nick Nicolaides said they run lean on tech and leaner on budget.
“After a few years building the product and grassroots community, we have total control of our cash flow and we can deploy all of this capital injection towards new products and taking our get rich, slow, message to a national scale,” he said.
“We are on the verge of introducing a new suite of index investing options, superannuation updates and investing services for homeowners, each designed for specific challenges facing our generations, and to help our community reach financial independence faster.”
Former Clemenger BBDO creative partner Jackson Nunn recently joined Pearler as creative director.
Pearler launched publicly in March 2021 and offers ASX and US share investing, micro-investing, savings rewards, superannuation and first home deposit account, as well as a children’s investment account, Headstart.
