South Korea’s Mirae Asset Global Investments has announced a strategic $28 million investment in robo-adviser and fund manager, Stockspot.
It is expected to help ramp up the provision of low-cost investing advice in Australia and accelerate the firm’s technology and product offerings.
Founded in 2013, Stockspot manages over $650 million on behalf of 13,000 clients. It last raised capital almost five years ago and has since grown five-fold.
“This investment is a resounding validation of Stockspot’s vision to make investment advice accessible to all Australians and enable individuals to achieve their financial dreams,” said Stockspot founder and chief executive, Chris Brycki.
“With Mirae Asset Global Investments’ support, we are poised to reshape the investment landscape and redefine how Australians approach wealth management.”
Mirae Asset chairman and global strategy officer, Hyeon Joo Park, said Stockspot’s commitment to transparency, technological excellence and its investors aligns perfectly with the company’s own business philosophy.
“Our investment supports Stockspot’s continued growth and ability to deliver quality investment and portfolio management outcomes for all investors,” Park stated.
The strategic investment marks Mirae’s expanded presence in the Australian market following the acquisition of ETF Securities, now known as Global X ETFs, in June last year.
Mirae is headquartered in Seoul and has over 20 offices around the world, managing more than $331 billion in assets under management.
