Fintech industry is booming today and you even don’t have to be actually involved in finance or banking activitites in order to notice that. Everywhere people get more and more opportunities to manage their money and other financial assets literally from a distance. On top of that, we see a number of quality platforms, providing such innovative services to their clients as financial education, consulting and investment assistance – yes, now even online. Not to mention all those payment platforms and alternative stock exchanges. Interestingly, most of such fintech solutions rise from startup projects. Welltrado is one of the promising startups from Lithuania, currently promoting their investment marketplace. Tomas Medeckis, the company’s CEO, presented Welltrado during the Startup Pitching Competition at International Investor Day Vilnius. Later VCEE Startups got to find out more about Welltrado.
Tomas tells more about the team standing behind Welltrado:
“Our team consists of three people: CEO with 4 year experience in finance/business development, software & mobile app developer who has previously developed several online platforms, and business development advisor with 10 year experience in finance/ investments/business development/ private equity. In the near future our team will grow. Four professionals from marketing and legal fields will join Welltrado until the end of 2016”.
At what stage is Welltrado currently placed in terms of business development? Any investment raised so far?
Welltrado is an early stage startup launched 6 months ago. Definitely, revenues have not exceeded costs. So far, we have not raised any investments. As an early stage startup we are searching for seed capital of 100.000 EUR in order to finish development of the platform and promote Welltrado as a marketplace for alternative investments.
How do you find partners to suggest them for users’ portfolio?
There are tons of fintech companies operating in the market. Welltrado as a marketplace connects investors with various alternative investment options. By this, we mean that any crowdfunding or p2p lending platform can be listed at Welltrado. However, the best indicator for users before they make the decision to invest is the traction of a specific fintech platform.
What is Welltrado monetization scheme? Do you charge any fees from specific platforms (like Seedrs, Mintos etc.) for promoting their services?
It depends on a specific platform, but most platforms do offer affiliate payments for referring investors to their companies. Individuals who invest through Welltrado platform are not charged by any other extra payments.
So what is the agenda for the future development of Welltrado?
There are three ways to minimize investment risk – diversify, follow the track and check what other investors say/advice. We want to gather most of the fintech platforms operating in the global market and the same time we see Welltrado as a global marketplace place for alternative investments where everyone who has any kind of the experience regarding fintech products can share it on Welltrado platform. Besides aggregated, visualized & ranked statistical data Welltrado will offer an option to write reviews and rank products for everyone who has willingness to share their experiences or even opinion. Before the decision to invest is made, it is very important to check all the information regarding the specific platform. And here a sharing economy concept can help where aggregated data is combined with personal users experience.
An early stage startup, Welltrado is in search of seed capital of 100.000 EUR in order to finish development of the platform and promote Welltrado as a marketplace for alternative investments. Good luck!
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