In December 2015, Nous Global Markets hit 143% of its target, raising a total of £500,018 to introduce real-money, real-market trading into its app, Spark Profit.
Nous Global Markets created Spark Profit as a fun way to engage and educate young, potential traders, fostering both a love of investing and an understanding of possible pitfalls. The app has found a hugely underserved market of young smartphone natives, who want financial market access, but do not have the capital or background knowledge required to participate through existing platforms.
Money was raised through SyndicateRoom to enable Nous Global Markets to apply for an Isle of Man Gambling License, allowing app users to bet on the financial markets with real money, which would provide further revenue for the company. With trading available from as little as 10p, built-in protections to limit customer losses (including the guarantee that they can never lose more than was wagered), and returns of up to 2,000%, Spark Profit is intended to open the financial markets to keen new traders.
The lead investor in this round was Robert Hogan, Managing Director of Deutsche Bank Japan. Of Nous Global Markets, he said: ‘Nous has a decent chance – I believe – to become a key competitor for those major UK betting firms and I think an IPO is [an equally likely] exit opportunity for the firm.’
Where are they now?
Nous Global Markets runs a very lean operation. Within 11 months of launching, Nous Global Markets had attracted over 300,000 customers, with a customer acquisition cost of just £0.50, including all spending on ads, PR and even prize monies to date.
In August 2016, Nous Global Markets’ trading site, TIQL, was approved for both iPhone and Android app stores. TIQL offers bigger returns than Spark Profit and was designed to be ‘the world’s safest and simplest trading app’.
For more information on TIQL and how it compares to other trading apps, visit its comparison page here.
CEO and Founder Justin Short reports that repeat depositors to the TIQL site are now over 78% of dollars deposited, which he considers ‘a clear indicator that customers really enjoy TIQL’ – something reflected in the media traction the company is generating (for a collection of TIQL/Nous news mentions, visit the company’s press page).
Justin himself is scheduled to appear on BBC World Service to speak about TIQL – tune in at 8pm (UK time) on the 8th September 2016 to listen.