Let’s meet Startup, Wevest:
In a few sentences, tell us what your start-up is all about!:
Wevest connects people to invest together and smarter. It allows you to replicate trades made by experts so people can skip the whole trial and error in the stock market. Once you attach your assets to an expert, it is all automated from there. When the trader you follow sells, you sell, all in real time.
When was your startup founded? And what stage is your startup currently at?:
December 2015. In development
Who are your competitors? And what is your start-up’s competitive advantage over them?:
Instavest, and covestor. We are mobile first, and more automated than instavest. We also use machine learning to help decide how much the follower should mirror with.
Let us know a bit about your team, who are the key team members and what is their role?:
James Touri CEO Current Senior at UC Davis, experience with Morgan Stanley.
Alex Ramirez CTO Various projects as a contractor
Cedric Cheng COO 20 years of experience in design and startup consulting
Why did you choose this particular idea and concept to build your start-up on?:
There aren’t that many resources for people that don’t have 50,000 to give to an advisor. People lose interest in the stock market because they trade alone, and they end up losing money.
We believe social trading is important and therefore we help people trade smarter and together.
How big do you think you can get? Why? And how you are planning to achieve your goals?:
Our mission is to have everyone trade in the stock market. It is important to build financial wealth on the side. So we hope that when people trade stocks, they use us. It can get up to 10 million users trading actively with us.
FinTech is only going to get bigger. We are a platform for people to interact and trade together. We will continue to keep adding features that will help users have a better experience with trading. Most of it will be using machine learning to solve problems that many traders deal with.
Are you looking for funding or are you open to partnership opportunities, and if so, what’s the best way for people to get in contact with you?:
We are currently seeking funding.
Contact me at [email protected]
Finally, do you have any other comments or information about your product that you would like to add?:
Go on our website to join the waitlist. The iPhone app will come first, then android and desktop will come a few months after that.
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