BUX, a fintech startup, has raised $1.9 million in its second round of funding from early-stage funder and gaming specialist Initial Capital along with VC Velocity Capital and VC 5Square.
Launched a year ago, BUX is a trading app that brings the fun back into finance. It helps to gamify investment in the stock market, especially for inexperienced investors. The BUX app offers access to the world of trading to a generation that grew up in the age of mobile, games and social networks and is currently disengaged with the traditional concept of trading. The startup claims to have more than 200,000 users in the UK and the Netherlands.
Nick Bortot, CEO of BUX said, “BUX is the result of a cross-pollination between two different sectors: games and trading, which is an excellent starting point for radical innovation. I’m thrilled that as a fintech company, we can now draw on the knowledge of one of the leading VC’s in the games sector.”
Shukri Shammas, founder and partner at Initial Capital said, “Making stock trading accessible through gamification isn’t easy. You need a unique team, consisting of members that don’t naturally find themselves working within each other’s vicinities: people with experience in brokerage and people who are into games.” He also added, “BUX has managed to build such a team. Because of this and the traction that BUX has shown after just a year, we are genuinely excited to be involved with BUX turning the traditional brokerage sector upside down.”
With the fresh funds, BUX plans to further accelerate growth in new markets across Europe.