WeInvest

wealthtech-retailfinancial research

FOUNDING YEAR: 2013
LOCATION: Singapore
Last Update: 17/07/2020

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About

WeInvest is Asia’s first digital wealth management solutions provider. Founded in 2015, WeInvest is headquartered in Singapore. Our proprietary robo-advisor provides banks, wealth and asset managers, insurance companies and independent financial advisors with a complete end-to-end investment platform which covers tech platform, investment strategies, operations, execution and custody.

MEDICI Analysis

WeInvest is Asia’s first digital wealth management solutions provider. Founded in 2015, WeInvest is headquartered in Singapore. Our proprietary robo-advisor provides banks, wealth and asset managers, insurance companies and independent financial advisors with a complete end-to-end investment platform which covers tech platform, investment strategies, operations, execution and custody.

Focus

PRODUCTS & SERVICES

WeInvest is Asia’s first digital wealth management solutions provider. Founded in 2015, WeInvest is headquartered in Singapore. Our proprietary robo-advisor provides banks, wealth and asset managers, insurance companies and independent financial advisors with a complete end-to-end investment platform which covers tech platform, investment strategies, operations, execution and custody.

REVENUE MODEL

Our revenue model is by charging the Bank/Institution which is acting as the Investment Advisor to the end consumer/investor.The revenue/fees from the Institution can be split into i. one-time initial up-front CAPEX for customization & implementation of the platform ii.For ongoing fees, there are two models provided to the institution’s 1.Annual license fee for technology & IT support OR 2.AUM-based monthly fees charged based on AUM managed by the platform, for both technology &  operations services rendered.

MAIN CLIENTS

Retail investors

EXISTING PARTNERSHIPS

DBS Bank

OCBC Bank

Citibank

Standard Chartered

and ANZ.

PRIMARY PROBLEM SOLVED

The WeInvest platform was used to address pain points in investors’ investment journeys. Retail investors face arduous process in order to grow their wealth, from setting up brokerage and custodian accounts, physically meeting a financial advisor to going through demanding paper work and risk assessments at bank branches. In addition, the investment advice given is not transparent and sometimes of questionable quality, and investors are charged high rates for the advice given. Banks and other Investment Solutions providers, face multiple problems related to acquiring new clients and servicing existing customers that essentially lead to higher costs, increased timelines and hence lower returns for customers. i.The platform enables banks, asset managers, family offices, external asset managers to offer their clients a simple, transparent and cost effective investment solution with a Low CAPEX, minimum OPEX and quick time to market that enables B2B clients to quickly cross the digital wealth chasm. ii.The platform is a completely end to end solution (front-end to execution & custody). iii. The end consumer gets access to a investment portal offering efficient portfolios with completely transparency. The platform currently works with Equities, Mutual Funds, ETFs and bonds iv. The bank/institutions can offer a DIY-Robo advisory solution which their end-consumer can access on web & mobile interfaces.  v. The client could also offer an RM-based Hybrid Robo-advisory solution, whereby a Relationship Manger (RM) could walk a client through the goal-based investing process to identify and select the right investment portfolio to invest in. vi. The bank/institution can offer : 1.A Discretionary managed account model, where the portfolio rebalancing & constituents are at complete discretion of the Portfolio Manager focussed on Mass/Emerging affluent customers, OR 2.A Relationship Manager Advisory managed account model, whereby the portfolio rebalancing & constituents can be customized based on client inputs, and then executed by the bank/institution and can help serve the need of HNIs and UNHNIs clients

INTELLECTUAL PROPERTY

Patent(s) FILED

COMMENT

WeInvest sees itself as bringing an e-commerce model to the wealth management space, but with a level of simplicity and trust

Traction

REVENUE

$100k - $499k in 2017

ACTIVE USERS:

Confidential Million in 2017

ACTIVE USERS COMMENT:

WeInvest & TrackWealth was started with the vision to help everyone take control of their finances, make better investment decisions and gain access to simpler, smarter and transparent investing. Today, the ability to offer low cost, simpler investing experiences is possible due to better technology, investment products, User Experience improvements & increased regulatory cognizance of next generation investment solutions. Today’s investors, be it millenials, emerging or mass affluent and high networth individuals, have a severe lack of access to trusted advise and advisors as well as tools. Their busy lives don’t allow for them to engage in continuous research and stay on top of market trends. The current model that serves them while investing does not take into account their goals and needs and where they are in the investment life-cycle. Regularly exposed to mediocre service and little or no access to cost effective investment options, more than 70% of this target audience is looking for a smarter, cost-effective, intuitive digital investment option. WeInvest launched an Investment comparison portal in 2015 for investors to be able to make better investment decisions through an open-market comparison tool. We soon realised that a very large proportion of mass affluent population are typically affected by a number of common problems: Not having a good view of their finances, No views on portfolio diversification, Lack of disciplined time & effort to manage financial investments, Analysis-paralysis when provided with multiple investment options. While we were able to give investors a better more transparent view into their options, we were still solving the problems for a small segment of savvy sophisticated investors. While the promise of Robo-advisory in the developed markets is growing, we realised that in Asia, we need to have a solution which would work across multiple jurisdictions, with multiple regulatory constraints, capital constraints, market structures & investor behaviour across Asia. Hence, the need to come up with a multi-stage solution which addresses segments ranging from aggregation, goal-based advisory, thematic investing including enabling relationship managers.

People

FOUNDERS

Bhaskar Prabhakara

Rajesh Arjunlal

BOARD MEMBERS AND ADVISORS

Azmul Haque

Bhaskar Prabhakara

KS Sreeram

Puneet Pushkarna

Aman Narain

NUMBER OF EMPLOYEES

51-200

INVESTORS:

DIFC Fintech Hive

FinTech Hive Accelerator

Lighthouse1

Schroders

TH Capital

KEY EMPLOYEES:

Aananth Solaiyappan (CTO & Co-founder)

Momentum

FUNDED

YES

TOTAL FUNDING

$12.31 M

DATE OF LAST FUNDING

Nov 2018

TOTAL FUNDING COMMENT

The company is planing to use the new funding to support product development and expansion in its existing key markets(May 2018).

SEED CLOSED ON

Aug 2017

FUNDING SERIES

SERIES A  · $12.31 M  · May 2018

LISTED

NO

For Investors

FUNDING NEEDED:

$10 M

USES OF FUNDS RAISED:

1. Sales & Business Development

2. Marketing & PR

3. Product Research & Development

4. Regional Expansion

5. General Administration & Overheads

EXIT STRATEGY

Potential Trade sale/acquisition to/by 1. Legacy Fintech Behemoths ( Envestnet, FIS, SS&C, IHS Markit ) for regional expansion 2. Asset management firms who are struggling/like to stay relevant in new age digital wealth space. 3. Large Technology firms like Alibaba, Google, Amazon, LuFax

MONTHS LEFT WITH CURRENT CASH BURN RATE:

8 months from 30 Sep, 2017

BASICS

FOUNDING YEAR:

2013

LOCATION:

Singapore

Views:

237 VISITORS | 496 VIEWS
LATEST FUNDING ROUND

$12.3 M

TOTAL EMPLOYEES
51-200

About

WeInvest is Asia’s first digital wealth management solutions provider. Founded in 2015, WeInvest is headquartered in Singapore. Our proprietary robo-advisor provides banks, wealth and asset managers, insurance companies and independent financial advisors with a complete end-to-end investment platform which covers tech platform, investment strategies, operations, execution and custody.

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!

MEDICI Analysis

WeInvest is Asia’s first digital wealth management solutions provider. Founded in 2015, WeInvest is headquartered in Singapore. Our proprietary robo-advisor provides banks, wealth and asset managers, insurance companies and independent financial advisors with a complete end-to-end investment platform which covers tech platform, investment strategies, operations, execution and custody.

Focus+
Momentum+
Traction+
People+
For Investors+
Other+

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WeInvest

About

WeInvest is Asia’s first digital wealth management solutions provider. Founded in 2015, WeInvest is headquartered in Singapore. Our proprietary robo-advisor provides banks, wealth and asset managers, insurance companies and independent financial advisors with a complete end-to-end investment platform which covers tech platform, investment strategies, operations, execution and custody.

Focus

PRODUCTS & SERVICES

1. Account Aggregation : Mimic the process of user logging into their bank internet banking portals, and use web-scraping to get all the relevant positions and transactions across different account types. The data is then scrubbed into a standardised format, and an accounting engine works to provide insights & visually engaging data analysis dashboards.  2. Robo-Advisory takes the user(investor) through a goal setting & risk profiling visually-engaging questionnaire, followed by a portfolio recommendation and portfolio optimisation exercise. The user can then sign up for the service, digital sign documents, and upload onboarding docs before transferring monies to be invested. Regular rebalancing occurs and user can get to see this portfolio progress, transactions,fees & alternative options at any point of time. 3. The RM/Advisor workbench is a capability built to deliver a holistic picture to the RMs about their clients, client communications, product information along with the ability to precision service clients based on client profile and needs. At a high level the RM WorkBench consists of the following modules: - RM Onboarding & Administration - RM Dashboard & Overview - Client Portfolio View & reporting - Client profiling & search - Client Communications & engagement - Product Screener and Smart Marketing

REVENUE MODEL

Our revenue model is by charging the Bank/Institution which is acting as the Investment Advisor to the end consumer/investor.The revenue/fees from the Institution can be split into i. one-time initial up-front CAPEX for customization & implementation of the platform ii.For ongoing fees, there are two models provided to the institution’s 1.Annual license fee for technology & IT support OR 2.AUM-based monthly fees charged based on AUM managed by the platform, for both technology &  operations services rendered.

TOP PROBLEM SOLVED

The WeInvest platform was used to address pain points in investors’ investment journeys. Retail investors face arduous process in order to grow their wealth, from setting up brokerage and custodian accounts, physically meeting a financial advisor to going through demanding paper work and risk assessments at bank branches. In addition, the investment advice given is not transparent and sometimes of questionable quality, and investors are charged high rates for the advice given. Banks and other Investment Solutions providers, face multiple problems related to acquiring new clients and servicing existing customers that essentially lead to higher cost of investment , increased timelines and hence lower returns for customers. i.The platform enables banks, asset managers, family offices, external asset managers to offer their clients a simple, transparent and cost effective investment solution with a Low CAPEX, minimum OPEX and quick time to market that enables B2B clients to quickly cross the digital wealth chasm. ii.The platform is a completely end to end solution (front-end to execution & custody). iii. The end consumer gets access to a investment portal offering efficient portfolios with completely transparency. The platform currently works with Equities, Mutual Funds, ETFs and bonds iv. The bank/institutions can offer a DIY-Robo advisory solution which their end-consumer can access on web & mobile interfaces.  v. The client could also offer an RM-based Hybrid Robo-advisory solution, whereby a Relationship Manger (RM) could walk a client through the goal-based investing process to identify and select the right investment portfolio to invest in. vi. The bank/institution can offer : 1.A Discretionary managed account model, where the portfolio rebalancing & constituents are at complete discretion of the Portfolio Manager focussed on Mass/Emerging affluent customers, OR 2.A Relationship Manager Advisory managed account model, whereby the portfolio rebalancing & constituents can be customized based on client inputs, and then executed by the bank/institution and can help serve the need of HNIs and UNHNIs clients

PRODUCT DEVELOPMENT STAGE

V2.0 or BEYOND

PRODUCT DEVELOPMENT COMMENT

1. Account Aggregation & Analytics in real time across institutions in SEA providing intelligent insights to drive holistic advisory & long-term solutions & client stickiness 2. DIY Wealth Advisory 3. RM Workbench and RM led advisory 4. Client E-Boarding across multiple countries in conjunction with regulatory approvals 5.Back Office PMS/OMS/BOR - Comprehensive Back-office platform supports multiple asset classes, currencies, brokers, custodians & business models 6. Execution & Custody - Institutional execution with best-in-class capabilities & low fees 7. Strategy Store (Passive/Thematic) - 50+ investment strategies enhancing your capabilities with strategies you never had access to before. 8. Operations Support - An efficient set-up across onboarding, trade admin & customer support

KEY DIFFERENTIATORS

Product Differentiators: 1.Automated real-time account aggregation with patented secure technology 2.Operational support & investment strategies with next-gen API based applications 3. Supports Thematic investing apart from Goal-based investing (typically seen in robo-advisors) 4. Supports Multi-Asset class, multi-currency, multi-broker/custodians & multiple business models(DPM & Advisory models) 5. RM based advisory platform incorporates portfolio organiser to help clients organise their portfolio into core & satellite portfolios 6. Supports client E-onboarding across Singapore, Malaysia & Thailand (with regulatory approvals) 7. Offer Operational services ( end to end Client onboarding, Trade Administration, Customer support) to make it an end-to-end proposition). We are the only provider in Asia offering this service 8. Exclusive strategy store contains investment strategies from multiple providers : WeInvest, Ligthouse Canton, Morningstar, SP Global, MSCI, NGen Capital etc. We are the only provider in Asia offering this service Operational Model Differentiatiors : 1. Enterprise - 2. Software as a Service 3.Digital Wealth as a Service

PRIMARY CUSTOMER TYPE

Enterprise - Banks or Financial Institutions

PRODUCT ATTRIBUTES

SaaS

On-premises

White label

Back Office

Customer facing

STRATEGIC CLIENTS AND PARTNERSHIP

LIGHTHOUSE CANTON : Live with real clients

OCBC Bank : Live with real clients

CIMB Securities : 5 Country(SG,MY, TH, IN, HK) deal for platform roll-out with implementation underway

People

FOUNDERS

Bhaskar Prabhakara

Rajesh Arjunlal

NUMBER OF EMPLOYEES

11-50

KEY EMPLOYEES:

CEO, FOUNDER: Bhaskar Prabhakara

employee: Aananth Solaiyappan (CTO & Co-founder)

FOUNDER: Rajesh Arjunlal

BOARD MEMBERS AND ADVISORS:

Azmul Haque, Bhaskar Prabhakara, KS Sreeram, Puneet Pushkarna, Aman Narain

INVESTORS:

DIFC Fintech Hive

DIFC Fintech Hive

DIFC Fintech Hive

DIFC Fintech Hive

DIFC Fintech Hive

FinTech Hive Accelerator

Lighthouse1

Lighthouse1

Lighthouse1

Lighthouse1

Lighthouse1

Schroders

Schroders

Schroders

Schroders

Schroders

Schroders

TH Capital

TH Capital

TH Capital

TH Capital

TH Capital

Momentum

FUNDED

YES

TOTAL FUNDING:

$750 K

LISTED

NO

FUNDING SERIES
Seed Apr 2016 --- USD750 K at a USD4 Mvaluation Comment on Seed Seed round was raised to continue building the platform and its capabilities to win first few institutional clients Balaswan