As Six Park exits, Mirae backs Stockspot

Barely a fortnight after robo advice outfit, Six Park called its quits for wont of new investors, competitor robo adviser, Stockspot has received a strategic investment from Mirae Asset Global Investments.

Stockspot and Mirae announced the transaction yesterday stating the transaction would provide significant capital ensure Stockspot continued to accelerate its investment advice and financial services business.

Commenting on the transaction, Stockspot chief executive, Chris Brycki said the firm was thrilled to partner with Mirae and that the investment represented a validation of the firm’s vision to make investment advice accessible to all Australians.

He said the investment would ensure the firm is further able to grow by enhancing its technology, expanding its team of experts, and continuing to develop innovative products.

Just a fortnight ago, Six Park chief executive, Pat Garrett issued a statement announcing the effective closure of the business and attributing the move to an inability to access suitable funding.