BetterWealth, a startup from Malmö, is a business that makes online investments easier. It was founded by brothers David and Henrik Jönsson and Andreas Pålsson, and the company currently employs seven people.
The platform uses machine learning and financial theories on risk management to create a personalised profile for each user. For example, the algorithm automatically transfers money to more secure assets when the market becomes more volatile. The service is targeted at people, who have at least 50 000 Swedish kronor to invest.
“There are not many who offer this type of management service”, says Henrik Jönsson.
This year BetterWealth has received a long-awaited ‘green light’ to perform securities trading from the Swedish Financial Authority (Finansinspektionen). As a consequence, the financial group Collector and Bonniers’ venture capital branch NFT Ventures has entered the startup with SEK 8.8 million. At the moment, Collector Ventures owns the largest share, in comparison to other external partners.
“The goal this year is to bring in 100 million Swedish kronor in managed capital. In 2019 we aim to reach 500-1,000 million,” says David Jönsson to Rapidus.
However, the main plan for the company is to begin cooperating with banks and other financial institutions, so their customers could use the BetterWealth platform, when they want to invest their savings. The founders mention that it is supposed to take place before the end of 2018.