From left: Rubicoin co-founders John Tyrrell and Emmet Savage pictured in 2016. Image: UCD
The Irish fintech start-up Rubicoin has once again caught the eye of investors with news it has secured €3m to continue its global push.
Dublin-based Rubicoin was co-founded by Emmet Savage and John Tyrrell in 2014 with the aim of getting the average person involved in stock trading through a suite of apps. Now, a group of investors is putting its own stake in the start-up to the tune of €3m.
Led by Motley Fool Ventures, the deal has seen Rubicoin’s total funding amount raised to €8m, continuing its standing as one of the darlings of the Irish fintech scene. Currently, Rubicoin has subscribers from 140 countries and is in the process of focusing its growth in the US market.
The funding round leader, Motley Fool Ventures, is the investment arm of the US-based firm founded in 1993 by brothers Tom and David Gardner. Similar in business to Rubicoin, Motley Fool’s model is to help those without financial experience learn about making investments.
This isn’t Motley Fool’s first deal with Rubicoin. In fact, this is its fourth time investing in the start-up in which it claims a 15pc stake.
Speaking of the news, Savage said: “The last year has been a period of rapid growth for Rubicoin. We have grown to 20 employees with headquarters in the heart of Dublin city.
“We have also enjoyed a rapid increase in customer uptake, with over 2m app downloads to date and a growing community of brand advocates. We are confident that our brand will continue to grow in popularity around the globe.”
He added: “As part of the latest round of funding, we have ring-fenced a portion of the round for retail investors with an appetite to invest alongside one of the world’s most trusted businesses.”
Rubicoin last announced a major round of funding last year totalling €1.4m, and the year before that it raised €1.2m.
