Finance Breaking news Investment advisory platform Quin raises €1 million in seed funding last financial news

Breaking-Finance.Com - QUIN, an investment advisory service, raised €1M in seed funding to provide a non-custodian platform empowering people to invest safely and rationally.

Finance Breaking news Investment advisory platform Quin raises €1 million in seed funding last financial news

Breaking-Finance.Com - QUIN, an investment advisory service, raised €1M in seed funding to provide a non-custodian platform empowering people to invest safely and rationally.

Finance Breaking news Investment advisory platform Quin raises €1 million in seed funding last financial news
02 October 2020 - 08:30

Breaking-Finance.Com - The round is led by sino AG, other investors include Runa Capital, APX and a number of angel investors.QUIN provides people willing to invest in the long-term with a simple, rational and secure investment advice platform. It presents the new model that benefits from the European Open Banking Regulations — all you need is to connect the platform to your existing bank account. • Investing through QUIN is absolutely safe — the app never requires access to users’ money, they are managing all funds on their own. • QUIN does not have any time commitment or minimum size of investment — it is possible to start investing even with €25, while most robo-advisors require at least $500. • QUIN doesn’t charge any fees or commissions on the invested capital. Representing the most numerous generation, over 40% of millennials aren't investing at all — 12% feel the lack of the right knowledge and 6% claim they do not have enough time to manage their investments. They also have shown a preference for managing their own wealth — 72% of millennials describe themselves as “self-directed”, willing to directly participate in the investment process. “When I first wanted to invest myself, I realised how incredibly difficult it is to put together a portfolio and select the right products,” Christian Rokitta, Co-founder and CEO of QUIN says. “Understanding how many people were facing the same problem, we’ve decided to simplify this process, launching the world's first multi-banking investment platform.”To start investing through QUIN users only need to link it to their account. The app asks several questions and within a few taps automatically builds an individual portfolio of ETFs. Buying that portfolio products at the bank of choice takes one more tap, and the user gets a personalized dashboard with the latest market info news and fully automated financial advice. "Low barriers to entry, free and easy-to-use services in a rapidly growing market make QUIN extremely exciting for us.

. QUIN is a great tool for this", says Ingo Hillen, founder and CEO of sino AG.Existing investor APX has been working with QUIN since March. Since then, QUIN gained top-class partners, and received validation from industry experts, paving the way for the successful app launch in June. “With our follow-on investment and other strong partners on board, we look forward to accelerating QUIN’s future growth. This financing round is also an important signal for the fintech industry and shows that strong innovators are emerging from Europe and Germany”, says Henric Hungerhoff, Managing Director of APX, the successor to Axel Springer Plug and Play who was the first investor in N26. “The US interest rate is at 0% and European Central Bank boasts negative interest rates”, says Dmitry Galperin, General Partner at Runa Capital. “This situation incentivizes people to invest, but identifying the right targets becomes increasingly hard. Recent study from Blackrock points that there are more ETFs and index funds than stocks. QUIN helps retail investors navigate this market and invest smarter.”Up to date, more than 3000 people have invested via QUIN and its user base grows over 10% every week. For now the platform is available in Germany, and the team is planning to expand to other countries in the nearest future. The future paid version will include more functionality, including the ability to connect to several banks simultaneously. In addition, QUIN strives to expand its product from ETFs to other products like classic stocks, improve the connection to the banks and make the whole flow for the user smoother, faster and more convenient.

Source = Breaking-Finance.Com

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Finance Breaking news Investment advisory platform Quin raises €1 million in seed funding last financial news


Finance Breaking news Investment advisory platform Quin raises €1 million in seed funding last financial news


Finance Breaking news Investment advisory platform Quin raises €1 million in seed funding last financial news


Finance Breaking news Investment advisory platform Quin raises €1 million in seed funding last financial news

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