Holtzbrinck leads $6.9m round for Bux

Holtzbrinck did not reveal its contribution to the round but the VC typically deploys an initial €500,000-2m in the companies it backs, which can jump up to a total of €40m across all rounds over time.

The round featured capital from fintech-focused VC duo Orange Growth and Velocity. Both firms operate from headquarters in Amsterdam and are previous backers of Bux; the former typically invests upwards of €250,000.

The fresh $6.9m will finance Bux's European growth plans. Since inception, the business has expanded from its Amsterdam and London headquarters to Germany and Austria, and intends to continue the roll-out.

The company, which runs an app that allows users to experience real-time stock trading, claims to have broken the 350,000 customer mark, up from the 200,000 recorded in September 2015. Over time, its platform has grown to include social functionalities and there are plans to add new features in that respect in the next few months.

Previous funding
The funding round is Bux's third since being created in 2013. In January 2014, it was first backed by Orange Growth and its founding team.

In September 2015, the business raised a further $1.9m in institutional funding. The financing was led by Initial Capital, a VC with offices in London and Silicon Valley that targets investments in the gaming industry.

Company
Founded in 2013, Bux develops an app that tries to make brokerage more accessible by offering customers a first-time stock trading experience. The users begin by familiarising themselves with the process via a virtual currency and then may move on to real-money trading. With headquarters in both London and Amsterdam, the company operates additional offices in Berlin.

People
Holtzbrinck Ventures – Barbod Namini (principal).
Bux – Nick Bortot (CEO).

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• Topics
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