WealthInitiative develops a secured platform for wealth management institutions to match High Net Worth clients within their network. The platform aims to facilitate transactions within the fields of Art, Real Estate, and other high-value non-bankable assets.
The WealthInitiative Marketplace Platform
Nominated for most innovative fintech solution this year at the Wealthbriefing Swiss Award and for best tech start-up in Switzerland at the Geneva Convention Award, WealthInitiative is looking into disrupting the non-bankable asset trade. Their core business, a marketplace for high value physical assets, enables secure deals within the network of their clients.
The marketplace has several layers, the first facilitating the optimization of synergies within institutions’ own client-bases. On another level, the platform is meant for these institutions, private banks and asset managers to bridge their respective client portfolios. By doing so, the start-up aims to improve deal turnover within their partners’ networks via a smart platform.
WealthInitiative is also developing an innovative, automated valuation tool. This tool will allow clients to track the value of their non-bankable assets, by using technologies such as machine learning and big data. Additionally, the start-up is nearing the finalization of a blockchain-based system, built to create a permanent ledger of their clients’ assets, securing their digital identity and facilitating a clear provenance analysis. They are currently running a pilot of this concept with a group of Family Offices throughout Europe. The platform is expected to be live by the end of the year.
The competition is scarce, as the start-up is a rather unique innovation within the field. Among the few competitors, we can cite auction houses and companies working in asset tokenization. WealthInitiative stands out by its novelty, but also by its focus on partnerships with insurance companies, lawyers, and experts in each asset class dealt with, bolstering the quality of its offer.
Concretizing their project in the end of 2016, the start-up went through the Swiss accelerator programme F10. The tree founders behind the idea, Douglas Azar, Daniela Galeote and Andrew Galdkih, all have different backgrounds and draw expertise from their business, investment banking and tech profiles.
Moreover, the team is strengthened by a group of advisers and experts in different fields, such as blockchain and wealth management, who are helping with building a solid value proposition throughout Switzerland, Europe and Asia.
The company’s next moves
Planning their next move following the upcoming finalisation of their valuation tool, WealthInitiative’s team is now working on the organisation of their ICO before the end of the second quarter.