Invstr, a UK-headquartered financial education provider backed by financial services firm Fibabanka, has completed a $20m series A round consisting of convertible note financing, TechCrunch reported yesterday.
The participants in the round were not disclosed but TechCrunch stated the company has previously secured a total of $20m across two seed rounds, from Fibabanka subsidiary Finberg, Ventura Capital and angel investors Jari Ovaskainen and Rick Haythornthwaite.
Founded in 2013, Invstr runs an online platform that has been downloaded more than 1 million times and which helps users learn about the financial markets.
The offering includes Fantasy Finance, a game where users can allocate $1m to a hypothetical portfolio to help them get the hang of investing. Invstr is now expanding into trading and banking services, and plans to launch a portfolio builder and brokerage and analytics tools in the coming months.