New Zealand-based FinTech startup Ilumony is the online financial services and robo-advice company that is here to help make financial advice easily accessible, and they have moved towards cryptocurrency investing.
Using technology and experiences in financial and investment advice, Founder/CEO Rachel Strevens and co-founder Abhy Singla have created a platform that anyone can access and benefit from their intelligent financial advice.
This time they released their latest product set, Invsta, which simplifies crypto investing.
Invsta is an online cryptocurrency investment platform, offering a range of crypto-traded portfolios (CTPs) that help the wider public easily and confidently invest in a diverse range of cryptocurrencies and strategies.
Why is this great?
We all know cryptocurrency investing has taken off, with crypto being the talk of the town because of its youth and potential for growth.
With that, we also know crypto is volatile, and many of us might not know where to begin or might have much anxiety about entering this new world.
Hence, Invsta is perfect.
Invsta is in their pre-beta stage, and the team is working hard to get the platform ready for a public beta release.
They are part of the Kiwibank FinTech Accelerator 2018 which means, we can expect greatness and the anticipation of demo day in May,
They are working towards a global launch of our crypto investment platform and, by the end of the accelerator, we aim to be helping thousands of users across the world easily and confidently invest into what we see as an emerging asset class.
Founder and CEO Rachel Strevens said they would be focusing on rapid global growth right after the accelerator program.
“Right now we’re building up our NZ customer numbers, and at the same time we are also looking globally and working throughout global distribution, launch, and marketing strategies in various overseas markets,” she said.
Invsta was a natural step for Ilumony, and customer demand accelerated it.
“We were getting a lot of interest and questions coming through from our traditional investment customers about cryptocurrencies, wanting to know if we could help them invest into these,” Rachel said.
“We found that globally there was a huge interest to invest into cryptocurrencies, but that the majority of people didn’t know how to get started; they didn’t know what to invest into, and there were many more unknowns such as storage, security and trust.”
Invsta was birth from their experiences in cryptocurrencies and their investing expertise to reduce the risk, with the addition of powerful machine learning algorithms; making cryptocurrency investing simple.
Through the Invsta platform, customers can easily set up an account and access a range of cryptocurrency portfolios and strategies, including two high-frequency-trading (HFT) algorithm based portfolios, with more in the pipeline.
Co-founder Abhy Singla is personally very excited about our HFT algorithm portfolios and the level of sophistication that these can add to a cryptocurrency investment strategy.
“It’s great to be able to make these kinds of heavy-duty tools available to the general public via our platform,” he said.
The Kiwibank FinTech Accelerator is well and truly underway, and it's about time we started Introducing the teams! Up first, is @Ilumony. They're simplifying the world of #cryptocurrency #Investment and #advice. Discover more about their product @getinvsta here on the official #KFA blog.https://nzfintech.kiwi/2018/03/11/team-focus-ilumony
Posted by Lightning Lab on Monday, 12 March 2018
We got in touch with Rachel and gathered her insight on cryptocurrencies and their future.
With much buzz about cryptocurrency being a passing trend or many having little faith in it, what is your opinion on that?
While there has been a considerable amount of hype around crypto-currencies these last six months or so, we see that cryptocurrencies are an emerging asset class that will continue to mature and gain relevance over time.
We can already see the increasing relevance taking shape in many ways, with global financial market regulators starting to look at how to regulate this new form of investment, more and more companies globally willing to accept digital currencies, and Japan’s rapid adoption and acceptance of digital currencies.
Lastly, why should we invest in crypto? Do you think this is the future of investing?
We advocate a diversified approach to investing.
In addition to the more traditional types of investment such as shares, bonds, and property, alternative asset classes play an important role in a diversified portfolio. They provide access to a different set of investment opportunities, that will have different risks and potential returns. This is where we seeing cryptocurrencies fitting in.
We don’t believe cryptocurrencies are the only type of investment people should have, and we don’t want to see people betting their house on it. However, we do feel that a small allocation to crypto assets is a reasonable approach.
There is no denying that the underlying blockchain and distributed ledger technologies behind cryptocurrencies are enabling some incredibly exciting opportunities and applications with global impact and adoption.
Through Invsta we want to create an environment in which everyone can invest in and be a part of this digital and financial movement.
Invsta is definitely consumer-focused and forward thinking, making crypto investing simple and accessible, and that is a 10/10 for us.
We’re super excited to see what’s next and you can keep up with them on their social media to see what’s next, and put 17 May on your calendar because that is the demo day for the accelerator program.