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SparkGift makes it easy to send stocks and index funds as gifts to…
SparkGift is a Y Combinator backed technology startup that makes it easy to give investments as gifts. The founders came together with a common vision that it should be as easy to give someone an investment in the future, as it is to give someone a retail gift card. SparkGift supports small dollar gifts and fractional shares, so you can give someone a $20 investment in Apple or a Vanguard index fund. SparkGift is creating products that make investing simple, enjoyable and accessible to the masses. Our mission is to use gifts to create new savers & investors at scale.
SparkGift enables giving stocks and index funds as gifts to friends and family, with fractional shares and no brokerage account required. The product delivers a gift certificate for a chosen stock or fund that the recipient can redeem to set up an investment account.
Users choose a stock or index fund, purchase a gift certificate starting as low as $20, and SparkGift delivers the gift to the recipient. The recipient accepts the gift and sets up an investment account to redeem it; gifts can include fractional shares. Fees include $2.95 plus 3% of the gift amount, with gift recipients paying nothing to redeem. The process is described as a three-step flow: select stock, accept gift, watch it grow. Gifts can be sent for occasions like birthdays, holidays, and weddings, and are redeemable through affiliated brokerage services noted on the site.
Who it’s for: Individuals (gift-givers) who want to gift investments to friends or family; audiences include both first-time investors and experienced investors looking to give investment gifts to others.
Acquired by Stockpile; mentions YC involvement and investor/press coverage
Fintech, Financial Health, Investing. Partner @PayPal Ventures, formerly Innovation @Wellsfargo, YC 2015, CEO @SparkGift, Partnerships @Google, Product @Visa
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