Story:
The Founder manages over $500 million in assets for UHNWF and through his 15+ years of experience he saw that traditional wealth managers were not aligned with their clients. His belief is no one provides unbiased financial guidance. He wanted to bring the knowledge and expertise that benefits the 2% and offer it to the other 98% no matter what their income and asset level might be and that complex financial situations exist for everyone. He became passionate and personally committed to this opportunity and he has invested significant personal capital and time and built a great team around him to develop this financial platform.
Problem:
Technology, deregulation and an explosion of information and data have rapidly expanded the world of financial opportunities exposing the financial lives of the 98% to information overload and exploitation. This results in missed opportunities, misleading information, and ulterior motives that do not benefit the masses.
Solution:
Those 98% need a way to transform their fragmented, exposed financial data into a single source of truth where meaningful, clear and actionable insights are produced. They require an affordable and unbiased digital financial platform to optimize and guide them through their financial lives.
Product or Service:
Monstro is a revolutionary finance app that provides independent, personalized guidance to help optimize each client’s financial, legal, and tax life. It brings greater transparency to the world by serving as the only independent watchdog and unbiased advisor and this is what makes it different from other platforms. It is 100% aligned with the clients and utilizes AI & machine learning to analyze attributes of each client’s financial, legal, and tax data. It monitors their financial wellness and provides wealth management insights that:
Save them money Empower them
Make them money Protect them
Save them time Inspire them
The platform is personalized and targeted based on the information the client automates to the app such as bank accounts or investment accounts or information they manually input such as real estate and financial holdings. The information is stored in a secure, private repository within the U.S.
Personalized recommendations are updated in real time using proprietary technology and machine learning. Monstro is constantly learning and stays relevant by refining knowledge of the client by asking profile questions or complete missing data points related to their financial life.
Wealth management expertise personalized at scale.
Bite sized Tik-Tok like content provides a personalized experience at a given moment that is relevant to the client.
No product sales, quotas or hidden interests and the client’s data is never sold to anyone.
24/7 monitoring across 1,000’s of wealth strategy scenarios.
Dynamic search eliminates dashboard approach.
Personalized insights, education, and alerts.
Holistic visibility of their financial health.
Easy collaboration in-app with existing advisors.
Monstro will launch with native iOS and Android applications powered by a robust CMS, data feeds, and AI.
Monstro has a strategic partnership with Empowerment Labs Columbia to lead its development efforts at a substantially reduced cost compared to US resources.
Business model and revenue generation:
Monstro will generate revenue utilizing a 100% subscription-based model. There will be a tier subscription from a freemium access with a limited portion of the individual and household content to an enterprise access with unlimited accounts and content along with full access to business, estate, and tax focused insights and content. The current revenue model is based on household access @ $39 per month. This tier provides unlimited personal and household accounts and access to individual and household focused insights, alerts, and content.
Team:
The Founder has brought together top industry experts to lead the company.
The COO is an entrepreneurial digital executive with 20+ years of experience in business strategy leadership roles at companies like Google, Microsoft, AOL, and Viacom.
The Head of Digital Wealth Strategy has extensive experience as a wealth advisor and wealth manager at HSBC Securities and Wells Fargo Private Bank. She also co-founded EarlyShares, a real estate crowdfunding platform.
The Head of Content has a rich history in editorial, startup and media product management, most recently at the Wall Street Journal. He led content products at Nerdwallet and editorial operations at Yahoo.
The Head of Product has founded and driven businesses in fintech, real estate, and finance building on a background in consulting at PricewaterhouseCoopers. He has also led a successful exit for an international marketplace he launched to trade early stage company shares.
Investment:
$5 million investment via a simple agreement for future equity (SAFE) with a discounted cap. The investment will be used to scale Monstro from 0 to 500,000 paying clients by the end of 2024. The funds will be used for various costs including marketing growth & retention costs, product enhancements, operational costs, and prep for international expansion. The BETA launch occurred in February and the Public launch will soon follow. The current projection is to have 100,000 clients by the end of 2023. Monstro will quickly become a financial unicorn by delivering its independent services to millions of individuals.
Investment Highlights:
The founder has invested over $4 million of his own capital significantly de-risking the investment.
The product is ready to launch, bypassing the risks involved with ideation and construction.