MMC Ventures (MMC), the growth company investor, has invested GBP1.8 million in online retail stockbroker and personal finance media company Interactive Investor Plc.
Interactive Investor offers individuals information and technology to manage their own investments through two channels; online, through Interactive Investor (www.iii.co.uk) and Shareprice.co.uk and offline, through financial magazines Moneywise and Money Observer. MMC is taking a significant minority stake in the business, which has revenues of GBP14 million.
“The retail brokerage market has experienced exponential growth and we expect that to continue as an increasing number of people take more control over their own savings and investments and regulatory changes put pressure on commissions," says Jon Coker, investment director at MMC Ventures. "Over the last decade advances in technology have brought powerful investment tools to individual investors at lower prices.
“This business has grown organically at over 20 per cent per annum benefiting from the market turbulence of the last few years. MMC’s investment will allow Interactive Investor to fund several development projects that should continue its impressive growth rate and make it an even more attractive business.”
Interactive Investor is based in London and employs 81 people. Through its websites, mobile applications and magazines, it is a leading source of market information and commentary and also offers discussion boards where private investors can share their views. Beyond market data, the websites offer access to a range of personal investment accounts (share dealing, ISA, SIPPs) where products including shares, funds and derivtives can be traded. The sites generate 1.5 million unique visitors per month. Moneywise and Money Observer magazine each have a circulation of 20,000.
