In the realm of financial technology, or fintech, apps like Robinhood have revolutionized stock investing. Now, Shivam Bharuka, co-founder and CEO of Get Moving, aims to replicate this success with Finvest—a platform designed for investing in U.S. Treasury Bills.
Addressing Market Gaps
Bharuka’s journey with Finvest began in 2023, driven by the prevailing high interest rates. Recognizing the lucrative opportunity presented by U.S. Treasury Bills, Bharuka observed a lack of accessible avenues for individual investors. Traditional options, such as Treasury Direct and legacy brokerages, fell short in terms of user experience and accessibility.
From Concept to Execution
Initially part of the Winter 2023 Y Combinator cohort with a logistics-focused venture in India, Bharuka pivoted towards Finvest upon identifying the challenges associated with Treasury Bill investments. Collaborating with his team, Bharuka set out to streamline the entire process—from purchase to management and sale of Treasury Bills—through Finvest’s user-friendly platform.
Simplified Investment Process
Finvest’s operational model is straightforward. Users download the app on iOS or Android, create an account, link their bank account, and initiate a deposit. Unlike traditional brokerage setups, Finvest expedites the verification process, allowing users to pre-approve deposits for seamless execution once their accounts are verified. The platform charges a flat management fee of 0.03% per month based on the average daily market value of Treasury assets.
Competition and Value Proposition
While Finvest faces competition from platforms like Zamp Finance, it distinguishes itself by offering a high-yield cash management account with a 4.4% yield—significantly higher than standard savings accounts. Despite being in its early stages, Finvest has garnered significant attention, securing $2.7 million in funding from prominent investors.
Future Plans and Expansion
Looking ahead, Bharuka intends to utilize the funding to bolster Get Moving’s engineering team and diversify Finvest’s offerings to include additional asset classes like corporate and municipal bonds. Moreover, there are plans to expand Finvest’s reach internationally, particularly targeting Latin American countries like Argentina and Brazil, where there is growing interest in investing in stronger economies.
Conclusion
Finvest’s emergence in the fintech landscape signifies a promising development in democratizing access to Treasury Bill investments. With its user-centric approach and ambitious expansion plans, Finvest is poised to make investing in U.S. Treasury Bills more accessible and lucrative for individual investors worldwide.
