Public, the commission-free social investing app, has secured funding of $15 million. The Series B round was led by Accel and Greycroft, with participation from Hollywood actor Will Smith’s Dreamers VC and NFL star JJ Watt, among others.
Public is on a mission to promote financial literacy by creating a transparent community where people feel empowered to share why they invest. The app lets users buy slices of any US stocks and invest in ETFs for as little as $5, commission free.
In a blog post announcing the Series B round, co-CEO Leif Abraham wrote:
“We believe a significant reason why many people do not invest is due to a lack of financial literacy, expensive financial products, and soaring share prices that can require people to invest $500 or more to purchase a single share of popular, high-performing stocks.
“Public.com was created to address these very factors and unlock greater access by adding a social layer to the stock market and pioneering real-time fractional investing.”
The startup said the funding will go towards growing a broad community of investors. Public wants to differentiate itself through its recently revamped social feed, which lets users follow friends, experts, companies and themes.
“Looking ahead, we will continue to focus on delivering a modern, intuitive, and inherently social product experience — with new and improved features that make investing more accessible and offer even more ways to stay engaged with the companies you invest and believe in.”