Spaceship secures additional $6m of funding

13 July 2023

Spaceship, the innovative investment app for young Australians, has secured commitment for an additional $6m of funding from two of its major shareholders, Grok Ventures and Horizons Ventures.

The funding is being provided by way of an extension to an existing convertible note facility through which Spaceship successfully raised $7.5m in mid-2022, bringing total funding under the facility to $13.5m. 

"Spaceship is in an exciting place," says Andrew Moore, CEO of Spaceship. "As a company transforming the way young people think about and invest their money, we're often at the forefront of industry change. We're always up for the opportunity and challenge that this brings, and we're fortunate to have the confidence of our major shareholders, who share our vision."

Spaceship’s total funds under management has more than tripled over the last three years to $1.3 billion. In the same period, Spaceship Super has grown from 5,500 customers to over 22,000. 

“Spaceship has achieved very strong growth in recent years, despite some challenging market conditions,” says Moore. "We see incredible opportunity for future growth, especially as Spaceship launches its new US Investing service.”

Spaceship intends to use the additional capital to fund the launch of new products and the expansion of our existing operations.

For media enquiries, please contact Jack Gordon (0478 060 362) at Citadel Magnus.

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