Like the rest of Latin America’s financial sector, retail investment space is being reviewed by local tech start-ups that are taking advantage of the untapped potential to democratize local wealth management. One of those startups is Chile-based Finale, which today announced a $ 15 million round led by Kaszek Ventures, Latin America’s largest fund.
Fintual is an automated passive investment that allows the average person in Chile or Mexico to invest in investment trusts, including ETFs (Exchange Traded Funds), lesser-known or easily accessible in Latin America. The platform.
Pedro Pineda, co-founder and CEO of Fintual, said:
Prior to starting Finalual with three co-founders in 2018, Pineda was an astronomer and entrepreneur, 28 years old at Groupon’s copycat company called “Queremos Descuentos” (discount required) in Chile. At that time, it was established and sold for just over $ 1 million.
After the exit, he admits that he was a little lost in life.
“One day I wanted to do only what I wanted to do, and I wanted to do it with people who wanted to do it with me,” he said.
He traveled for several years and, among other things, learned coding until Fintual’s current CIO, Omar Larré, presented him with business ideas.
Larré was the portfolio manager for Banco Itau, Brazil’s largest bank in terms of total assets, but found a gap in the market. No investment was set for the average person. The annual fee was too high, the minimum amount required to…
