Public.com plans to expand internationally in 2023
Retail investing and trading platform Public.com has announced that it plans to expand internationally outside the US, making its services available for clients around the globe. The company didn’t give an exact date for its international launch, just stating that it would happen “in 2023”.
While Public.com currently only takes clients in the US, as it competes with other app-focused neobrokers such as Robinhood, the company already has offices in New York and Copenhagen, and team members in eight countries around the world.
The company didn’t specify from which countries it will be taking clients (and which countries not), or whether it plans to become licensed in jurisdictions outside the US.
Public stated that its app will be available to download soon in “a wide range of new markets”. Global investors will be able to convert their local currency into the US dollar within the platform to invest in their choice of thousands of assets. International members will also have access to its investor and analyst community, so they may make more informed decisions about their portfolio, with advanced insights, daily live shows, and investor analysis. And with features like extended market trading, international members will have more flexibility to trade and to react to news that breaks outside of U.S. market hours.
Public.com said that it was already now opening a waitlist, so those outside the U.S. can sign up to be the first to know when Public is accessible to them.
Public.com was founded in 2018 and is co-run by well-known FX industry executive Jannick Malling (ex Saxo Bank, CFH Group, Tradable) and serial web entrepreneur Leif Abraham. Since 2019, Public has raised over $300 million. Investors include Accel, Tiger Global, as well as Sean ‘Diddy’ Combs, Will Smith (Dreamers VC), Maria Sharapova, Tony Hawk, The Chainsmokers’ Mantis VC; NFL star J.J. Watt, NYU Stern professor Scott Galloway, business executive Dick Parsons, and Shari Redstone’s Advancit Capital.