HotCopper began trading on 15 September, and the company’s chair Steve James said the business was “already performing strongly with significant potential upside” given the company’s subscriber base of self-directed investors.
“We have around 550,000 unique visitors per month, and 250,000 members who are predominantly retail, sophisticated and SMSF investors.
“Our membership base represents a big percentage of the 605,000 Australians who invest through an online broker, and numbers are growing every month. We plan to maximise this growth opportunity and make HotCopper an indispensable part of investing in Australia,” Mr James said.
The company plans to introduce a mobile app and bespoke offers for investors, as well as “explore strategic and joint venture opportunities,” Mr James added.
“HotCopper is essentially a neutral conduit between companies and investors, the business is well suited to JVs.
“The underlying technology is highly scalable, so we’re actively looking for ways to harness that,” he explained.