Superannuation and share trading platform Superhero has pocketed $11 million in fresh capital, which increasing its valuation by $22.5 million in just three months.
The new cash comes after a $3 million raise in February at a $125.5 million valuation. All up, the business has now taken on around $70 million in external capital and is now worth $150m post-money.
The fintech previously raised $15 million in October 2021 – just six months after banking $25 million – and counts Perennial Value Management, Regal Funds Management, Ophir Asset Management, Alex Waislitz’s Thorney Investment Group, Afterpay’s Nick Molnar, Zip’s Larry Diamond and Finder’s Fred Schebesta among its investors
Existing investors chipped in on the latest cash injection, which is plans to use to develop investment advice tools.
Superhero was founded in 2018 by John Winters and Wayne Baskin. The fintech’s ASX trading platform went live in September 2020 with Superhero Super launched in July 2021.
In mid 2022, Superhero announced plans to merge with cryptocurrency exchange Swyftx to create a startup valued at $1.5 billion.
But the unicorn dream died just six months later as Swyftx grappled with the fallout from the collapse of US crypto exchange FTX and concerns of money laundering by US regulators.
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