December 3, 2024
Public, the U.S.-based investing platform, has closed a $135 million Series D-2 funding round, including $105 million in equity and $30 million in debt. The round was led by Accel, a backer since Public’s 2019 launch. This funding follows nearly four years since the last major round and the platform’s five-year anniversary in September.
Originally a "social stock trading app," Public has expanded its offerings to support multiple asset classes and integrated AI features like Alpha, used by over 90% of its users for real-time market insights. The tool has contributed to increased user engagement, with 25% of interactions leading to trades within three hours. Strong growth in deposits and customer retention has made the brokerage business profitable, bolstered by Public’s focus on user acquisition and platform development.
Public’s reliability stands out, with just 30 minutes of downtime in the past year, outmatching competitors that typically experience daily disruptions. The platform’s growth aligns with trends indicating that a new generation of investors, expected to inherit $70 trillion by 2045, is increasingly focused on self-directed investment strategies. Public continues to expand its offerings to meet the demands of this demographic, aiming to facilitate informed investment decisions across stocks, bonds, and alternative assets.
About Public
Public is a U.S.-based investing platform that has evolved from a social stock trading app into a service offering diverse asset classes and advanced research tools. The platform’s goal is to make investing accessible and to support users in managing their financial futures.
Website: https://public.com/
X: @public
About Investor
Accel
Accel is a venture capital firm that invests in early and growth-stage technology companies. Accel’s portfolio includes numerous successful startups across different sectors.
Location: Palo Alto, California
Website: https://www.accel.com
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