Investing in the stock market can be a daunting task. London-based Stockflare is tossing their hat in the ring with a platform that enables would-be investors to better know their stocks.
In researching Stockflare, I have found that it is quite easy to open up their web-based platform and begin poking around. One option is to do a direct search for a stock (they offer access to 47,000), but users can also search by categories like “Vice, not Nice”, “Boring Businesses”, “Big and Cheap”, and more than a dozen similar categories. Clicking on a particular category offers users the option of viewing either the largest or all stocks in that market, with star-ratings that ostensibly alert users to differences in the quality and risks of different choices. Selecting a particular profile, I found that the service offers a host of relevant indicators, including the PE ratio, target price, projected dividend, earnings per share, and more. And the service not only offers insight into that particularly company, but also a host of information regarding its competition. The service is available on Android and iOS, but the startup has taken a bit of an unusual move and also released an app for Amazon.
CEO and founder Shane Leonard tells me that they are in the “pre-revenue” phase, as they provide data and investor tools for free. But they are planning to monetize the service through partnerships with brokers.
Stockflare has been live for nearly a year, having launched last October. The service remains in beta, but they have picked up more than 10,000 users in the United Kingdom.
The founders of Stockflare initially put 200K British pounds into the company, but when searching for further funding, they turned to the public with a crowdfunding campaign on Crowdcube, where they have raised more than 444K pounds (148% of their goal of 300K pounds) from 187 backers by offering a 27.02% stake. The largest backer, the London Co-Investment Fund, during this crowdfunding campaign decided to put 100K pounds into the business. Leonard told me that the decision to pursue crowdfunding seemed obvious, as they decided that those who invest in stocks would likely be willing to participate in campaigns like this.