Share the money with everyone
If you’ve ever thought investing was for people older and richer than you, there’s an innovative Kiwi startup with exactly you in mind. Only 20% of Kiwis have stocks, and they are probably white males over 60.
A group of six young Kiwis, including couple Brooke and Leighton Roberts and their friend Sonya Williams, decided to change that. These are the “3EO” or three CEOs of “Sharesies” – a platform that allows anyone to invest in the sharing market.
It was a collaborative effort of six young people passionate about making investing accessible. Their interest started very early; Leighton even started an investment group when he was just 17. He and 13 friends all put $ 50 a week into a fund and watched it grow.
“We’ve been doing it ever since and we’ve got a pretty good investment portfolio, 16 years later. Money grows over time, that’s for sure. It’s the most powerful part of investing.”
Brooke says they wanted to make this type of investment accessible to everyone. “There is no reason why a person with $ 5 cannot have the same investment opportunities as a person with $ 500,000.”
The group understood that New Zealanders wanted to invest but felt they could not get started. Then they couldn’t get past the “pale, masculine, outdated” jargon or marketing.
The result of their research is Sharesies, and since its launch in 2016, it has taken off. They reached 10,000 customers by the end of their first year, and Brooke remembers reaching the first million.
“We had created something that people really needed in their lives.” They have 260,000 users who invest over $ 1 billion in just four years – and better yet, 71% of their investors are under 40.
To learn more about their Sharesies journey, listen to the latest HP Business Class episode here: