US-based online investment platform developer Republic collected $150m yesterday in a series B round featuring Motley Fool Ventures, the strategic investment arm of financial information provider The Motley Fool.
The round was led by Valor Equity Partners and backed by Galaxy Interactive, a subsidiary of digital asset-focused merchant bank Galaxy Digital, as well as HOF Capital, Tribe Capital, CoinFund, Pillar VC, Brevan Howard, Atreides and executives at GoldenTree Asset Management.
Republic operates a number of businesses including a retail investment platform, a private capital division and a blockchain incubator and fund, providing technical, financing, distribution and tokenisation services.
The company’s users can invest in startups, real estate, crypto and gaming products. The funding will be used to boost international growth, expand into new geographical market and develop new investment products.
The deal comes after Republic raised $36m in a March 2021 series A round led by Galaxy Interactive that included Motley Fool Ventures, Tribe Capital and Broadhaven Ventures.
Alongside the series A round, Prosus Ventures, the corporate venturing arm of media and e-commerce group Naspers, bought an undisclosed amount of Republic Notes, a profit-sharing digital security product launched by the company, which had previously secured $16m in a December 2020 sale of the notes.
Binance Labs, the venture capital arm of Crypto exchange operator Binance, co-led a $12m round for Republic in 2018 with blockchain project owner Neo’s NGC ECO Fund. The round also featured ZK Capital, Oyster Ventures, FBG Capital, Hazoor Capital, East Chain and ZhenFund.