Paul Bennetts is one of four co-founders of Spaceship, with Andrew Sellen, Kaushik Sen and Dave Kuhn. They came up with the idea over beers at the end of 2015. All four worked in financial services.
They disliked default superannuation options that were heavily weighted to Australian shares, especially the big banks and miners. Spaceship was built as a mobile-only super fund that put money into large technology companies and startups, with members able to see holdings stock by stock.
In 2016 the company raised a A$1.6 million seed round in about three days. It was the first startup investment made through Mike Cannon-Brookes' Grok Ventures. Other backers included Simon Clausen, Leigh Jasper, Mike Baukes, Alan Sharp-Paul and Andre Eikmeier.
In September 2024 eToro acquired Spaceship.