Fintech startup Upworth has made a bold entrance into the financial technology sector, securing a significant $1 million in its initial funding round. This investment comes from a consortium of business angels and entrepreneurs eager to support the company’s vision of democratizing money management.
Co-founded by Alexandre Chavotier, Carlos Rios, and Maxime Chaury, Upworth combines expertise in technology, finance, and consumer services to revolutionize wealth management.
With the launch of its consumer product, Upworth aims to offer Australians a comprehensive and free tool to navigate their financial future.
“We are proud to bring Upworth to the world, starting with Australia, providing individuals with powerful tools to achieve financial independence,” proclaimed CEO Alexandre Chavotier, an alumnus of McKinsey & AI firm Quantum Black.
Upworth’s platform boasts a range of features designed to empower users:
- An integrated dashboard that consolidates users’ assets and liabilities, ranging from bank and investment accounts to cryptocurrencies and real estate.
- Access to information on 170,000 securities across more than 70 global exchanges, allowing users to track and understand the dynamics of their wealth.
- An AI-enhanced control tower offering insights and actionable advice for wealth growth, including a mortgage refinancing module for loan savings assessments within 60 seconds.
- A digital marketplace connecting consumers with financial products, currently focusing on home loans, as Upworth operates as an authorized credit representative with a network of over 30 lenders.
Upworth is not resting on its laurels; plans are underway for the rollout of additional tools by 2024, such as a self-serve financial roadmap for retirement planning and a fee scanner to help users cut down on financial costs.
In an industry where security is paramount, Upworth ensures that all customer data is stored domestically, protected with AES-256 encryption, and compliant with Australia’s rigorous open banking and privacy standards, including the Consumer Data Rights legislation.
The team at Upworth is also invested in improving financial literacy, establishing the Upworth Hive knowledge base and launching the Upworth Talks podcast series, featuring personal finance and investment experts.
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