UNSW team launching the ‘Spotify of the fintech world’
Investors daunted by the stockmarket will soon be able to choose investment options in the same way as songlists, says a UNSW team of entrepreneurs.
It could be music to many young investors’ ears to hear that two UNSW students have co-founded ‘the Spotify of the fintech world’ – making the stock market accessible to aspiring investors.’
Recent UNSW graduate Hayden Smith (B. Computer Science) and current final year student Kurt Walkom, along with Nick Nicolaides, are the brains behind Pearler Investments.
The investing platform is essentially an app that suggests investment opportunities in ready-made portfolios, in the same way that Spotify playlists suggest music. The trio at the company call the playlists ‘pearls’, and the stocks are like the songs. The user can follow or compare stock suggestions by the founders of the company, professional investors or friends – a la Spotify, which helps you find and share music without being a music expert.
“We had numerous eureka moments. Our first idea was to build a superannuation platform that would genuinely engage people. After that, we thought, the best way forward was to build an investment platform that people can invest their day-to-day savings in, and then engage them in using their superannuation. Finally, we settled on creating a network investing social, as nobody had really cracked that,” said Mr Walkom.
“When we talked to people, they had three problems: they saw investing as gambling, although that’s misguided, that’s just how they saw it. Secondly, it was time consuming for them, there weren’t many platforms that made it simple. The third thing was the lack of knowledge and sustainability – Pearler will try to bring these three aspects together.”
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