Velexa Selected as One of Six Industry-Disrupting Start-Ups at Money20/20 Europe
Money20/20, the world’s leading fintech event, has spotlighted six promising start-ups for their 2024 European show, including Velexa. These selected start-ups are seen as true industry disruptors poised to make a significant impact on the fintech landscape. To introduce Velexa to the media, Tamara Kostova, a visionary leader in financial technology, delivered a pitch at the Money20/20 Europe Press Lounge on June 5. She focused on the critical shift from financial literacy to trust in investing and shared groundbreaking insights on transforming the investment landscape for nascent investors.
“The problem we thought we were trying to solve was financial literacy,” Kostova stated, “but then we realized the real problem was trust. It wasn’t just about building another app where people could invest. It was about using a blended model that would work hand-in-hand with nascent investors to really kickstart their wealth journey. We must create psychological safety within investors before encouraging them to take calculated risks with investing.”
Globally, retail investors hold $59 trillion in assets, yet only 10% effectively grow their wealth through investing. This reveals a stark gap: a desire for financial well-being hindered by limited access and insufficient education. Across Europe, incumbent institutions already have the trust of these nascent investors, and through those channels, Velexa is better positioned to offer multi-asset investing options. In addition to leveraging the human touch, Velexa’s technological advancements enable easier investing journeys, such as investment baskets and robo-advisory services.
Kostova highlighted Velexa’s cutting-edge Wealthtech platform, designed to empower any financial institution to seamlessly embed investing services. As a B2B SaaS company, Velexa responds directly to end-user demand for a personalized investing experience by offering educational content, social engagement features, personalization, and a mobile-first approach—all within a single, customizable platform. Investors, from beginners to sophisticated traders, can manage multi-asset, multi-currency investing accounts tailored to their needs. The platform provides brandable front-end apps with extensive customization options, allowing any institution to retain its unique brand identity while offering products that match their investing expertise and aspirations.
“Financial literacy is not just about knowledge, but the actual practice and integration of trading behavior and growth,” Kostova emphasized. “We aim to bridge the gap between the desire to grow one’s wealth and action in financial well-being through innovative, trust-building technology solutions.” She also noted that “Wealthtech has the power and therefore the responsibility to enhance financial literacy and accessibility. By developing intuitive investing applications on the Velexa platform, we’re not just helping Europeans manage their finances; we’re empowering them to embark on a transformative wealth journey.”