Anti-FOMO platform Fundvest to launch EU and US stocks offering in Estonia, Latvia, Lithuania

Rick Steves

“Existing fintech solutions mainly promote day traders like FOMO investing culture.”

Fundvest has launched a user-friendly savings and investments platform that offers access to EU and US stock exchanges, with a transparent pricing structure: commission fees will only be tied to customers activity.

Founded by Rasmus Klaassen, Sander Siim Vaher, Egon Orav, Martins Untals and Ottomar Paeväli, who all have years of experience in banking and fintech scene, Fundvest will first go live in three Baltic countries Estonia, Latvia and Lithuania.

The firm is working to continue expanding the investment services throughout the European Union in the near future.

Fundvest is not a fan of FOMO investing culture

Rasmus Klaassen, Chief Executive Officer at Fundvest, said: “Europeans lack an investment app, that offers access not only to NYSE but also other EU member states’ stock exchanges. Existing fintech solutions mainly promote day traders like FOMO investing culture. Fundvest tackles this problem by offering access to EU and US stock exchanges with transparent pricing model and an easy-to-use investment app”.

After securing funding and a brokerage license, Fundvest is currently in the very last stages of building the mobile app. Although the app isn’t ready yet, it is possible to sign up for an exclusive waitlist on their website.

Subscribers will have an opportunity to download the application first and the product itself should be available for the public during the third quarter of this year.

The Fundvest project initially began as a closed-ended small fund that invested owners’ own equity during the period of market turmoil of 2020, but they quickly saw it as an opportunity to build a better platform for investors rather than remain as another actively managed fund.

The platform is anti-FOMO and encourages investing for the long-term. The firm raised capital from L-Kapital and obtained a Category B financial brokerage licence from Bank of Lithuania. Fundvest is concluding the pre-live activities to go live in Lithuania, Latvia and Estonia during this summer.

Fundvest founders decided to enter the brokerage space because they identified a lack of “a great retail investment app, that offers convenient access not only to NYSE but also other EU member states stock exchanges”.

The firm explained further: “Traditional banks lack a modern user centricity approach and have gotten a bad reputation from traditionally high fees. While existing fintech solutions are mainly promoting day traders like FOMO investing culture. Nobody is directly tackling the long-term angle of the word “invest”. As Warren Buffet adequately puts, the favourite holding period for an investor should be forever.”

Read this next

blockdag

BlockDAG’s Keynote Video Drives $34.7M in Presales, Gaining Traction Among Solana (SOL) Investors and Litecoin Enthusiasts

Discover BlockDAG’s leadership in cryptocurrency, attracting Solana (SOL) investors and Litecoin enthusiasts with its strong growth prospects and groundbreaking mining technology. 

Digital Assets

Mt. Gox users alarmed by $10 billion transfer to unknown wallet

Mt. Gox has transferred 42,830 BTC, worth about $2.9 billion, from its cold wallets, according to Arkham Intelligence data. This marks the first major transfer from the defunct bitcoin exchange in five years.

Digital Assets

FTX co-CEO, SBF’s close associate sentenced to 90 months in prison

Former FTX executive Ryan Salame has been sentenced to 90 months in prison after pleading guilty to criminal charges last September.

blockdag

BlockDAG Dominates Crypto Presales With $34.7M Milestone, Surpassing Floki And Bonk In Market Influence

Discover how BlockDAG’s cutting-edge dashboard and presale achievements upstage Floki and Bonk in the cryptocurrency arena, signaling superior investment opportunities.

Market News, Tech and Fundamental, Technical Analysis

Dogecoin Technical Analysis Report 28 May, 2024

Dogecoin cryptocurrency can be expected to fall further toward the next support level 0.1500.

Retail FX

Canadian broker Questrade taps TradingView charting

Canadian securities brokerage Questrade has upgraded its web platform by integrating popular charting software TradingView.

Fintech

Germany lifts N26’s monthly cap of 60,000 new clients

Germany’s financial regulator has lifted a cap on the number of new clients that N26 Bank AG can take on after the fintech company improved its anti-money laundering controls. BaFin, the country’s financial watchdog, will remove the cap entirely from June 1, 2024.

Education

Animals and the money: Octa broker gathered the most popular slang words in financial markets

If you’ve seen ‘The Wolf of Wall Street’ with Leonardo DiCaprio as Jordan Belfort, you might have wondered why he’s called a wolf in the movie. It’s not just a random label. Animals are often used in finance to describe traders, their traits, or market conditions.

Industry News

Octa’s Global Ramadan Impact

Charity activities are an essential part of Ramadan celebrations. Octa seized this opportunity to implement a series of socially beneficial initiatives worldwide. Read about the projects the broker carried out in Indonesia, Malaysia, and Nigeria.

<