After raising $1.6m, investment platform Invesko ropes in 20,000 Gen Z investors

The funding round helped Invesko expand its team and develop the mobile investing platform, which allows users to invest in stocks for as little as $1, with no account minimum.

Invesko, a regional investment platform, announced that it has successfully onboarded over 20,000 investors aged 18 to 29 within just three months of its launch.

The startup’s launch in May was supported by a $1.6 million Seed funding raised in early 2023 from regional and local venture capital investors, including Singapore’s TNB Aura, 500 Southeast Asia, and Philippine-based Kaya Foundersand Foxmont Capital Partners.

The funding round helped Invesko expand its team and develop the mobile investing platform, which allows users to invest in stocks for as little as $1, with no account minimum.

The platform was designed for Gen Z investors who want to build their financial portfolio online, per the announcement.

A study conducted by HSBC last year found that Gen Zs start investing at 23 years old on average and dedicate a larger portion of their income towards investing at 27%.

In the Philippines, the number of young Filipino investors has been growing since the global pandemic as they recognize the importance of ensuring they can meet their future financial needs, Manulife IM Philippines earlier said.

Invesko said 81% of young adults prefer to manage their finances via mobile apps. The platform is designed as a mobile-first platform to meet this demand, the startup added.

Available to customers in over 150 countries, the app provides access to US stocks and ETFs through a partnership with a broker-dealer, offering brokerage features, flexibility, and SIPC insurance—all delivered via the user-friendly Invesko app.

“Our vision is for Invesko to be the most trusted, lowest-cost, and culturally relevant investment app for Gen Z in Southeast Asia—the most tech-savvy and largest user base,” Invesko founder Miko Bantigue said.

He added that the platform allows users to easily transition between US stocks, local stocks, automated investment products, and a high-yield USD cash account.

The startup also plans to include local stocks in its offerings.

“Looking ahead, we aim to offer a seamless experience where users can grow and manage all aspects of their wealth in one place,” Bantigue said.

Written by: Christian Francisco

28 August 2024

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TNB Aura Scout was created as a natural extension of our Series A/B strategy, allowing us to identify and invest in high-potential business models and founders at the pre-seed stage, ahead of a potential core investment, in less mature markets across Southeast Asia.