Lightyear is extending its stock-trading offering to include a wide selection of U.K. and European stocks.
Lightyear received $25 million in fresh funding from the Virgin Group and Lightspeed, just a couple of months after launching outside the U.K.
Lightyear is one of many stock-trading companies that promise the average consumer an easy way to invest their money directly in some of the world's biggest companies, as well as a collection of different stocks managed by investment experts. Lightyear initially only offered support for U.S. based stocks, such as Apple andTesla, but with its European launch in July the company opened up to a small selection of stocks trading on European stock exchanges.
For the first time in the United Kingdom, customers will be able to invest in companies trading on the London Stock Exchange.
The app is called Light Year.
Lightyear is expanding to include a full range of U.K. and EU Exchange Traded Funds because they are a good entry point for new investors. With an exchange traded fund, people can decide how much money they want to invest and leave it to people whose job it is to follow the market trends, while it also diversifies their investment so that they don't put all their eggs in.
Lightyear supported around 50 ETFs when it launched initially for EU customers in July, but with this latest expansion this will include around 100 more, which are aligned with the London Stock Exchange.
Freetrade and Wise expanded into index investing last year, but Lightyear is still ahead of them. Lightyear doesn't charge account fees or commission, but it does charge foreign exchange fees.
On October 17th, Lightyear will launch all the new company stocks and exchange traded funds in the US, UK, Germany, and the Netherlands.
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