Multi-currency investment platform Lightyear lands $25M Series A round
Investment platform Lightyear has raised $25 million in a Series A funding round led by Lightspeed Venture Partners.
The company’s seed investors – Mosaic Ventures, Taavet + Sten and Metaplanet – also participated in the round alongside new investor Virgin Group and a number of new and existing angel investors.
Lightyear combines multi-currency accounts – where users can add, hold and invest in different currencies – with access to global markets so users can invest with no trading fees, no account fees and no custody fees.
Founded by former Wise duo Martin Sokk and Mihkel Aamer, the company has also announced expansion into 19 European markets, including Ireland, the Baltics, Spain, Germany, Italy, Portugal, the Netherlands and France. The business was launched in the UK nine months ago.
Users in these countries will now have access to thousands of US and European stocks in addition to exchange-traded funds (ETFs).
Lightyear co-founder and CEO Martin Sokk said, “We have secured a European license that allows us to launch across the continent and raise one of the biggest Series A rounds in 2022.
“But our goal remains the same: to give all of Europe access to global markets with no hidden fees and to make investing easy for everyone.”