US investment app Public is launching in the UK as it pushes into the European market.The company is backed by funds like Tiger Global and Accel as well as celebrities like Will Smith.The startup, which has offices in both New York and Copenhagen, is backed by an array of high-profile investors including Tiger Global and Accel as well as a bevy of celebrities including actor Will Smith and skating icon Tony Hawk.
Public, founded in 2019 and last valued at $1.2 billion in 2021, will make the UK its first overseas market where it will offer users access to around 5,000 US equities on its platform."It's an English-speaking market, it has fairly innovative structures on the regulatory side that make it easier to expand to and it's a big market so we feel there is a lot of opportunity to capture," Abraham said.
The company converts members' currency from British pounds to US dollars when they deposit funds rather than on every individual trade, which it claims leads to lower costs around FX and per transaction for users. Public's app also displays data on markets such as cash flow statement analysis, earnings calls, investor reports, market shows, and Q&As with CEOs.
US trading platforms have tended to begin their European expansion plans in the UK, with Robinhood famously
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