Voleo Inc., a Canada based mobile fintech company, in a recent press release statement, announced strong growth in the US markets in both user activity and trading. The company reported a 43% increase in trading activity on its social stock-trading platform last two months, from Dec. 2018 to Jan. 2019. Additionally, Voleo also reported an impressive 12% month-on-month assets under management (AUM) growth since Jan. 2018, the period which almost flattened the market growth line.
Voleo facilitates trading on its platform, allowing users to trade and share investment decisions either as individuals or through investment clubs. The company’s app is the first and only investment app out there in the market that in actuality integrates the online brokerage model with the social media. The app facilitates making trade decisions via majority vote. Furthermore, Voleo’s collaborative investment model with its increased access to more capital facilitates users to build diversification in their portfolio. The company’s wholly-owned broker-dealer US subsidiary – Voleo USA Inc., is a FINRA (Financial Industry Regulatory Authority) member registered with the SEC (US Securities and Exchange Commission). The company’s equity investment services are available for white-label to financial institutions both in the US and internationally.
According to Thomas Beattie, Voleo’s CEO, the company invested a good four years of R&D work into the development of the Voleo iOS and Android apps and is proud to see a steady user growth since its soft-launch in 2017. The company amassed thousands of users across mobile platforms with a 70% conversion rate on invitations, with each club on an average having 9 members and growing. Concluding he said that it’s their emphasis on teamwork and collaboration that resulted in the platform to become an excellent referral engine amongst social cohorts for building and achieving financial goals.