Australian FinTech company profile #135 – Migain
1. Company Name: MiGain
2. Website: www.migain.io
3. Key Staff & Titles:
- Thanh Ly – Founder
- Huy Ly – Founder
- Craig Broadbent – Director & Advisor
- Cass Read-Hamilton – Marketing & Operations
4. Location(s): Melbourne, Australia
5. In one sentence, what does your fintech do?:
Migain helps individual investors to manage their property and share portfolio, as well as their associated cash transactions, to help them save money and time at tax time.
6. How / why did you start your fintech company?:
Huy Ly identified that there was no product that tracked and helped manage both property and shares, as well as all the associated cash transactions when generating reports at tax time. He created Migain to solve this problem and the team has spent the last 12 months developing and commercialising the software, creating the brand and market proposition, and soft launching the product to the Australian consumer market.
7. What is the best thing your company has achieved or learnt along the way (this can include awards, capital raising etc)?:
If you are building a software solution, make sure you have a trusted development partner who understand B2C product development and best practice financial technology integrations. Have the right leaders in the right roles from the start and make sure the team is communicating effectively from day 1 of working together.
8. What’s some advice you’d give to an aspiring start-up?:
“Know what you don’t know” and ask for help and expert guidance where you have gaps – technical or otherwise.
9. What’s next for your company? And are you looking to expand overseas or stay focussed on Australia?:
For now, we are looking to consolidate Migain in the Australian market and grow our subscriber base and our community of users. As we add functionality, we may look to expand into other markets, but there are many jurisdictional issues to consider first. We view our growth in terms of being a marathon, not a sprint.
10. What other fintechs or companies do you admire?:
We love the team over at Flux and the way they are encouraging young investors to be smarter.
11. What’s the most interesting or funniest moment that’s happened in your company’s lifetime?:
When we all turned up to the office for the first day and realised no one had a key!