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RM Founders Series - Flahmingo
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In This Weeks RM Founders Series, Joel Interviews Flahmingo founder and CEO Taran Kainth. Flahmingo is a Canadian commission-free fractional investment app, changing the way Canadians invest. Using an automated Pies and Slices model—the first of its kind in Canada—users can buy a portion of a share for as little as $1 and build their custom Pies while still enjoying the benefits of investing. With educational resources like Flahmingo Central—an in-app experience of free, bite-sized content—Flahmingo is in the business of empowered investing, so Canadians can make better-informed financial decisions.
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RM’s Biggest Takeaway: democratizing investing
The core asset Flahmingo is building is a really good mousetrap for wealth management. RM feels that the number one competitive advantage is their buy analogy that helps investors understand portfolio management.
“People are led to believe they need thousands of dollars to start investing, but that’s just not the case, Flahmingo is changing the narrative and letting Canadians know that they only need $1 to start.”
With this, its going to be their best bet to onboard customers and expand their offering on app.
This playbook has been run in the United States by Robinhood and Flahmingo looks to build something similar but ethically.
The Magic Sauce:
Aggregating information, trusted quotes, instantaneous transfers, and free trading.
Flahmingo in the news:
* FLAHMINGO RAISES $1.88 MILLION CAD, TEASES LAUNCH OF NEW APP IN Q1 2022
* PWC’S FINTECH MARKET MAP TAKES STOCK OF GROWING CANADIAN TECH SECTOR
* Alberta Innovates - Flahmingo
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