GraphonAn investment app that makes it easy to invest in brands by buying stocks where consumers regularly buy, announced on Wednesday that it has received a funding round of a $ 11 million series, which has reached the total amount of $ 22 million.
Along with this announcement, Griffin has also revealed that he has crossed 500,000 registered users, which shows that his approach to investment resonates with many users. Griffin also claims about 1 million total app and 100,000 monthly active users. The company refused to share the price.
Investment and consumer growth for Griffin identifies the main milestone, which reflects the investors’ confidence in the company’s business model and the ability to disrupt its traditional investment methods. The stock market can be scary for many Americans – allegedly just 62 % of US adults Directly owns any stock.
The new capital will be investing in the company’s software engineering and UX design teams as well as product development. Notable features include an AI chatboat on which Griffin is working on, as well as a parent’s family project that wants to introduce your young adult children to investment.
Griffin, who was founded in 2017 by Aaron Froog, Bo Star, and Robin Freog, aims to make it easier for people who find it difficult. Initially based on the concept of “stock where you buy”, the company was developed in an adaptive investment model in 2024 that automatically invests $ 1 in stock related to consumer transactions. For example, if the user shops in Walmart, Walmart stocks are invested in $ 1. Users can also adjust their investment quantity manually. This model has proven to be successful, as Griffin’s internal data is proof that consumers have shown a 234 % increase in costs in Walmart six months after buying its stock.
Another approach is to provide educational content to simplify Griffin, which provides consumers daily insights about financial literacy. The company plans to expand its educational offerings and develop an AI chatboat that can summarize articles on the platform and provide immediate answers to user questions. Chat boot will also provide insights for individual accounts, such as answering questions, such as, “When did I invest this?” Or “When did I get a profit?”
Currently the time of rollout is not known, as Griffin wants to make sure that the chatboat provides accurate answers before its inception.
“AI can be a wonderful feature, but sometimes it can’t even give the right things,” said Aaron Freog, the CEO of Griffin, who is the CEO of Griffin. “So we are just making sure we are doting and crossing Tea before we launch something like this.”
The educational offer is especially important because of the Griffin’s user base. Many of its users are women in the late 40 and 60’s, a group that traditionally has less confidence in their investment knowledge. There are also young women between the ages of 18 to 24, which is why Griffin is considering adding budget tools that provide insights to consumers in their costs.
One of the most desirable features is family projects, which will enable consumers to share their graphon accounts with family members and introduce investment to underage consumers. Many young generations feel reluctant to invest in the stock market. Although the market has improved in recent months, it still includes risks.
“One of the cool things that we want to do with family plans (parents or grandparents are allowed to help provide funds for children or naughs accounts, so there is no more financial tension,” Aaron Fregg added, so there is no more financial tension.
The period was led by Nava Vancutors with the participation of Eli Labs, Draper Associates, Ganges, Nukout Ventures, and TV Capital. In addition to the fund, Freddy Martinity, partner of Nava Ventures, joined the Griffin Board.