Since 2010, the number of mass affluent investors - those with over $100k in wealth - has increased from 358m to 642m, a rise of 79%. All in all, this amounts to $335 trillion (!) in global wealth. We expect this trend to continue due to ongoing innovation in private investing.
Retail investing tools like Robinhood allow you to buy stocks - or a small fraction of one - with just one click. New asset classes, like crypto and tokens, are booming. Bitcoin, for example, moved from being a speculative curiosity to becoming an institutionally recognised asset class and can be purchased with one click by anyone (hello to our portfolio company Bitpanda). Lastly, but not to be underestimated, a new generation of entrepreneurs built wealth in the exploding private tech markets and then started investing in new startups.
Again, there is little to no sign that this growth in private markets will stop anytime soon, promising to be a huge value-add driver for the industry going forward.
But there are no tools available to manage all of this wealth.
Most wealth management options for the 642 million private asset investors are outdated and obsolete. Many simply use Excel (or Airtable at best). Others turn to traditional - and not tech-savvy - private wealth managers who often don’t understand or have ready access to new investment opportunities and whose primary motivation is to upsell inhouse products and collect fees.
Finary’s first and best-in-class platform empowers the modern investor. You have stocks in Robinhood, crypto in Coinbase and Binance, savings account in BNP Paribas, real estate and angel investments? Finary enables you to track all of it in one place in real-time.
You can get a clear overview of previously hidden fees and the actual risks associated with your current asset allocation. The coming months will bring many more insights.
Finally, soon you’ll get access to new investment opportunities right in the Finary platform.
Since its launch just five months ago, Finary has gained customer love already - thousands of users from 67 countries track over $2bn of their private wealth. We love that too!
Behind all this, there is a passionate, energetic and visionary team led by Mounir Laggoune (CEO) and Julien Blancher (CTO). Mounir and Julien experienced the problem themselves and as true (and repeat) entrepreneurs decided to change the status quo forever.
They are building the product at a rocket pace. Since we met the team just nine months ago, they’ve integrated over 40 asset classes, as well as 10,000 banks and brokerage platforms in Europe and the US.
It looks incredibly simple for the user, but there is phenomenal work happening behind the scenes. The dream duo of Mounir and Julien, along with their team, have the speed and skill necessary to integrate with a wide variety of trading venues across the globe (many of which are decidedly not very techy), to maintain international regulatory compliance, and to keep adding new features that customers want. Finary is very customer-driven. A lot of features in both the free and premium versions (Finary+) are a direct result of customer feedback. If you try Finary, they’ll listen to you too!
It’s all just a starting point as the wealth management industry has been slow to innovate. The global mission is to change the industry forever by becoming the first independent wealth management platform that allows you to track wealth across all classes (countries, banks and platforms), optimize it (pointing out to the hidden fees often introduced by some brokers), and execute on new investment strategies. After quite a few breakthroughs across different Fintech segments, now is the time for wealth management.
With that in mind, we are very excited to lead the Seed round alongside our friends at Kima Ventures and Y Combinator as well as many angels including Raphaël Vullierme (co-founder at our portfolio company Luko), supporting the wealth management revolution.
We love Finary and we’re sure you’ll love them, too! See for yourself at finary.eu/en.
Authored by Olga Shikhantsova, a member of the Speedinvest Fintech team. Traditional institutions have long been the sole gatekeepers of the financial sector. Now, Fintech companies are uprooting business models across insurance, investing, lending, real estate and banking, easing access to financial services we use every day. From wefox to Bitpanda, Luko, Curve and Tide, the Fintech team has a portfolio spanning from Europe to emerging markets and partner with the most innovative tech startups driving this disruption. Whether reinventing payments or embedded finance, our sector expertise, strong industry networks, and in-house operational support helps founders unleash their full potential.
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