Thomas Beattie, CEO of Voleo, spoke with the INN at the Extraordinary Future Conference about breaking down the barriers to investing.
Thomas Beattie, CEO of Voleo (TSXV:TRAD), an investment club trading app, spoke with the Investing News Network at the Extraordinary Future Conference in Vancouver, British Columbia, about four of the primary barriers to investing.
He also discussed Voleo’s plans to collaborate with financial institutions in the future. During the conversation, Beattie explained how Voleo’s collaborative models are attracting a more diverse audience, and said that over the past three months, the company’s user base has doubled.
“What we’ve attracted to date has been a really broad geographic dispersion of users. I’d say one of the more interesting findings is that 46 percent of Voleo’s users are female,” Beattie said.
The wisdom of crowds has benefited trading clubs like Voleo to the tune of 2 percent, Beattie added. “What we’ve done is we’ve made it possible for (users) to combine their assets and knowledge with the people that they trust, and validate their decision with that team,” he said.
As mentioned, Beattie also touched on four of the primary barriers to investing. “I think it’s the collaboration that is really making the difference for women that might be starting on the investment journey, and it’s the ability to learn and break down all of those barriers … money, knowledge, time and fear,” he said.
While Voleo has recently added more security and features to its platform, Beattie noted that the innate structure of the platform is conducive to trading.
“When you can take the uncertainty out of investing and know that everyone that you’re investing with is in the same spot as you and will have a vested interest in your success, it’s a lot easier to take those first steps,” he said.
Beattie noted that in the future, Voleo will aim to integrate its services with financial institutions as they continue to invest in new technologies to compete with challenger banks and incoming fintech unicorns.
Watch the video above for more on what Beattie had to say, and stay tuned for more of our Extraordinary Future video coverage. Our full playlist for the event can be found on YouTube.
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Securities Disclosure: I, Dorothy Neufeld, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.