Portfolio Spotlight: Pearler

Pearler co-founders Nick Nicolaides and Hayden Smith

We’re shining a light on UNSW Founders alumni and portfolio company Pearler. The Sydney startup is on a mission to empower everyday people to become successful long-term investors through its innovative investment app. Co-founded by CEO Nick Nicolaides, a former investment banker, CTO Hayden Smith, a software engineer, and Kurt Walkom, a former mechanical engineer, Pearler aims to fill the gap between advice and share trading, providing a holistic approach to wealth management within a supportive community.

Pearler's emphasis is on making share investing a part of managing one's wealth and a tool to achieve longer-term goals. With a customer base of 79,906 already onboarded and more than $500 million invested, Pearler's focus is on building out different products while growing and scaling. The venture-backed startup recently launched a new kids’ investment app, Pearler Headstart, designed for parents to invest in their offspring’s future and help them develop financial skills.

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In June 2022, the 10x Accelerator alumni closed a seed round of $7.8 million, led by Canadian fintech specialist Portage Ventures, with participation from Australian venture capital firms Archangel Ventures and TEN13.

UNSW Founders 10x Accelerator Cohort 3 (Pearler centre back)

"What we've been focused on is how to make investing more connected to everyday life,” Nick told Business News Australia. “A core part of that is integrating with your bank accounts, being able to shorten the gap between what you're spending, your bills, what you've got leftover, and what you're investing," explained Nick. "We wrap that up into auto-invest, one of our unique features when we launched, and we're doubling down on that."

The recent seed round led by Portage Ventures, with its $3 billion under management, is a testament to Pearler's impressive growth and acceleration. "We are really excited to be backing Nick and the Pearler team as they build the next generation of holistic investing products," said Portage Ventures partner Stephanie Choo. "Our thesis is that there is a big gap in the market between trading single stocks and having an advisor do everything for you."

Pearler's unique approach to wealth management has resonated with its target audience of young investors who are looking for guidance, advice, and support in their wealth journey. Nick believes that millions of young people in the middle of their careers are missing out on innovation in this space, and Pearler aims to fill that gap.

"What attracts investors is our emphasis on helping young investors navigate their wealth journey over the next 20, 30 or 40 years while giving them the tools to navigate any market environment," said Nick. "We are not interested in enabling investing as a series of transactions. Rather, our process is about helping people set goals and achieve them over the long term in a simple and efficient way.

“We believe automation will play an increasingly important role in managing investments, and it is central to our business development plans.”

Pearler believes representation matters and makes a concerted effort to track how their community and employees identify including their preferred pronouns. Pearler thinks having a diverse and inclusive team will make for a diverse and inclusive community. The team is led by CEO Nick who has over 15 years of experience working in the financial services industry including analyst roles at J.P Morgan and Ernst & Young and has served on boards for financial firms such as Atrium Investment Management, Marshall Investments, and Easton Pearson. Meanwhile, fellow co-founder and Pearler CTO Hayden is an experienced software engineer with a unique background in the leadership of solar car teams and robotic soccer teams. Previous Pearler CEO and co-founder Kurt has moved his focus to renewable energy and joined another UNSW Founders portfolio company, Gridsight.

Pearler co-founder Kurt Walkom pitching at 10x Demo Night in April 2019