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Finterview: Peeptrade

Finterview: Peeptrade

Peeptrade is an app that allows it´s users to peep (watch and monitor) other people’s trades. Their system is based off the “professional trader” and the everyday investor. As usual in Social Trading you are able to follow experienced or professional investors. Their is one special thing about peeptrade:  They are  integrated with over 1,000 brokers and financial institutions. And here are my questions and peeptrades answers

 

Finterview_ Peeptrade

 

 

Please describe your company and product

Peeptrade is an award-winning financial information platform and social network that allows anyone to „peep“ into the success of investors, giving them a transparent and competitive edge. (Juan)

 

When did you start your business?

The business was started in 2014

 

What customer problem will you solve? Your main USP

For too long investors have only had access to investment research that is difficult to decipher and riddled with conflicts. Peeptrade gives investors transparent to other investor’s portfolios and investment history while giving the industry a lifeline to the new world of social networking. At the moment we are integrated with over 1,000 brokers and financial institutions. This means that any investor can upload their portfolio, see where they rank among other investors, and even charge other users to see their portfolios and investment history! In addition, we give all users access to features like real time portfolio-specific news updates, charts, analyst sentiment, social posts, and the ability to trade right on the platform. Our unique selling point, then, is that we are truly the first social network for investors. (Austin)

 

How is your startup financed? In what funding phase are you?

We have raised around $750,000 USD. We are currently raising a Pre-Series A round of around 1 million. We think we will start the Series A raising in a few months. (Juan)

 

Please describe your business model

The first step is an investor linking his or her brokerage account with Peeptrade. Then, we show their track record to everyone in the platform. Then, they can start making money by setting a price for other investors to see their portfolios and trading activity. Peeptrade takes a commission on the monthly subscription fee that the investors set. (Juan)

 

Please tell us some facts about your team? Who are the founders and what are their skills?

The diversity and commitment to our mission is truly what makes Peeptrade’s team unique. Each of our founders brings unique skills to the company that help us achieve our goals. Juan Mendoza, the founder and CEO of Peeptrade, started his career at JP Morgan where he was a Market Risk Manager for many Latin American countries. After obtaining an MBA from the University of Texas, he worked at BBVA Asset Management as a VP of Product Management and Quantitative Analysis. Carlos Chaves, the CTO and co-founder of Peeptrade, previously worked at Citi, Tata Consultancy Services, Flextronics, and E-Connect. Carlos built the Peeptrade platform from scratch using his technical skills and is responsible for all of our groundbreaking technology. Austin Sarles, the Director of Marketing and co-founder of Peeptrade, is a graduate of the University of Texas as well. Austin has worked for and consulted with companies such as Nadine West, Honest Dollar, and Pivot3. Austin is responsible for marketing, advertising, public relations, and user acquisition efforts. Ali Bakir, the Director of Business Development and co-founder of Peeptrade, has an MBA from Indiana University. Ali previously worked at S&P Global Market Intelligence and, has been instrumental in Peeptrade’s success. His innovation and work ethic have resulted in new initiatives, partnerships, and programs that have taken Peeptrade to new heights!

 

Short answer: Disrupting banks or enabling banks?

We are doing both. We are disrupting the way that traditional research and investment newsletters are done. On Peeptrade, investors are actually showing what they are doing with their own money instead of just writing about it in a newsletter or article. At the same time, we are also helping brokers and banks reach out to more people by making investment more fun, interactive, and transparent. (Juan)

 

In what are you better than banks?

As we mentioned above, we are changing the way institutions do their research. At Peeptrade we say that our users put their money where their mouth is. This means that they not only tell why they think that XYZ stock is a good investment, but you can also check if they are actually investing their own money in XYZ and how much of his portfolio is allocated to that stock. All of this information is in a platform where investors can interact with each other and conduct their own research. Our platform provides all our users with free tools such as financial news, charts, ratings, stock fundamentals, social posts, and more for free.  (Juan)

 

What are the biggest future challenges for banks and for your company?

Our biggest challenge at the moment is spreading the word to potential users and communicating all the benefits users can get by joining Peeptrade. (Juan)

 

Are you satisfied with the progress of your startup? Are you on target?

Peeptrade is not even close to the idea we had a couple of years ago. The platform we built is much better. I never thought we were going to build a platform like the one we have now. (Juan)

 

Any tips for people who likes to start a fintech startup?

, so if you are thinking about starting a fintech startup, be aware that you will constantly need to be raising money, as being cash-flow self-sufficient can take years. (Juan)

 

 What are your plans and milestones for 2016?

We just accomplished one of our biggest milestones, which is allowing anyone in the US to link their portfolio. We are now integrating thousands of brokers and financial institutions, enabling anyone to monetize their investment knowledge. Our next milestone is to start spreading the word about our platform and delivering value to our users. (Juan)

 

Additional Question: For what more private thing you would leave everything behind?

Right now I wouldn’t leave Peeptrade for anything in the world except health or family issues. I always have thought that working and being productive is one of the most important things in life, but there are some things that are more important. (Juan)

 

Boris Janek

AUTHOR - Boris Janek

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