Australian FinTech company profile #143 – m2Wealth

Australian FinTech company profile #143 – m2Wealth

1. Company Name: m2Wealth

2. Website: www.m2wealth.com

3. Key Staff & Titles:

Paul Graham (Partner, Managing Director), Henry Kortt (Partner, Director) & Brent Fraser (Partner, Director), Anthony Bull (CTO), Terence Burns (Director Operations), Rudi Pecker (Director Australia), Breana Stillman (Marketing)

4. Location(s): Australia, New Zealand, Europe, United Kingdom, Hong Kong

5. In one sentence, what does your fintech do?

m2Wealth provides solutions for the Wealth Management sector, by utilising automatic aggregation and unique AI processes to deliver ‘clean’ data for accurate analytics and timely reporting.

6. How / why did you start your fintech company?

The Founding partners of M2 were continuously coming across problems within broad based investments and decided to address these shortcomings by developing a true international system encompassing private, domestic and international asset classes.  None of the fintechs were providing multiple bank sanctioned aggregation (this was only possible via screen scraping, which is now banned in Europe and the UK) and no one was utilising AI to resolve the problems caused through inconsistent, incomplete and error prone (dirty) investment data.

7. What is the best thing your company has achieved or learnt along the way (this can include awards, capital raising etc)?:

Utilising our deep understanding of the problems of the Wealth Management sector and through sheer persistence and determination, we have created a set of world leading solutions at a fraction of the cost experienced by most other fintechs. We have no known direct competitors and a growing list of customers based on satisfied client referrals.

8. What’s some advice you’d give to an aspiring start-up?:

Make sure you clearly understand what you are trying to address, if the product is unique enough to fill a hole in the market and your target audience i.e. have a broad and deep domain knowledge, carefully think through the design, usability (nuances) architecture and scalability and then give it your best shot.

9. What’s next for your company? And are you looking to expand overseas or stay focussed on Australia?:

Having completed the development and delivery of our set of solutions and proven processes (and taken customers from significant incumbents), our next step is to accelerate our Global expansion by promoting our unique set of AI services in other countries, off the back of a pre capital event raising, which is currently underway.

10. What other fintech’s or companies do you admire?:

Xero, Addepar & Tesla

11. What’s the most interesting or funniest moment that’s happened in your company’s lifetime?:

Too many of the moments can’t be mentioned to protect the innocent and the guilty, but it was amusing when at a meeting in Zurich the hosts (talking amongst themselves in Swiss German) pondered what I (Henry Kortt, k2Wealth Partner & Director), being an Australian, could possibly know about the Swiss Wealth Management market, to which I responded (in German) that we had been doing business in Switzerland for 12 years and that we were already a leading supplier of independent aggregation services to the Wealth Management industry. Their jaws dropped because they hadn’t realised I spoke and understood German.