Dwealth, a robo-advisor app that’s set to disrupt financial services operations, today announces that it is launching a campaign to raise $500,000 on small business crowdfunding website Fundable.com. The company plans to use the funding to enhance the technology behind the app, and expand its financial advisory, software development, and localized teams.
Dwealth is a robo-advisor with the goal to enable everyday investors across the world to diversify their investment portfolios easily, affordably, and professionally. The company’s mobile app will allow users to sign up, link their funds, and open a brokerage account within an average of three days — a process which can normally take from three to six months through traditional avenues. The app offers portfolios that are based on the individual’s risk tolerance level, investment goals, and investment time horizon.
“Dwealth’s mission is to help non-US citizens invest in markets outside of their home country, giving them financial opportunities that had not been feasible for them before” said Dwealth co-Founder, Sean Oluseun Odumusi. “By hitting our fundraising target, we’ll be able to reach various milestones, including expanding our financial expertise, adding more support to the software development team to develop the technology further, and setting up our Nigerian team.”
“Setting up a team in Nigeria will enable us to solidify potential partnerships there and establish Dwealth as a business that’s not only internationally relevant, but localized too,” added Mr. Oluseun Odumusi.
Dwealth is providing low and middle income-earners with the opportunity to build portfolios without outrageous minimums and connecting them to US markets. In doing this, Dwealth is allowing individuals in countries primarily in Africa, Asia, and South America to diversify their financial holdings without the traditional abundance of paperwork and complex and costly procedures.
In fact, Dwealth found that 90% of the world’s population finds it difficult to invest outside of their country of origin, yet this market of aspiring investors remains untapped. For those that want to invest elsewhere, their options are limited, and the path is laden with obstacles. Giving citizens of developing countries the opportunity to bypass this through a mobile app also enables faster economic growth and expansion, especially given the transformative nature of mobile money in developing countries. It’s also no secret that the robo-advisor industry is on the up, with it expected that the automated investment tools will collectively manage around $1 trillion globally by 2020.
Disclosure: This article includes a client of an Espacio portfolio company