It can be intimidating to start investing your savings in the stock market, but a wave of investing apps are trying to make trading more accessible to Millennial investors. There’s Robinhood, Acorns, M1 Finance and dough. Now, New York-based startup Public is trying to set itself apart in the space and it’s doing so with some high-profile backers.
Public announced last week that it closed on a $15 million Series B funding round co-led by Accel and Greycroft. On Monday, the company went into more detail by sharing a list of celebrity investors who also participated in the round. Among the star-studded list: actor Will Smith, soccer player Keisuke Honda, NFL player J.J. Watt, YouTuber and entrepreneur Casey Neistat, Girlboss founder Sophia Amoruso and more.
Public lets people trade stocks and funds commission-free. To attract new and casual investors, the company lets people buy partial stocks for $5 or more, which benefits people who want to invest in large tech companies but don’t have hundreds of dollars to shell out per share.
The startup also has a social aspect that makes it different from other investing apps. Users can follow other people and their investments, or share and comment on specific trades. It also recently revamped its social feed in order to promote conversations about investing.
The company says it will use this funding to grow its “broad community of investors who bring a powerful blend of perspectives and domain expertise to the platform.” Any Public user can follow these individuals for a look at how other people are investing.
“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,” Public co-CEO Leif Abraham wrote in a blog post.
