In the wake of a growing number of robo-investors including Robinhood, Stash, and Betterment, a new fintech startup known as Grow, which is based in S
In the wake of a growing number of robo-investors including Robinhood, Stash, and Betterment, a new fintech startup known as Grow, which is based in San Francisco, has entered into the fray. Grow focuses on both financial returns and investment. Perhaps what sets the app apart is the fact that other than functioning much like its rivals regarding making it much easier for novice investors build their portfolios promptly, it only focuses on environmentally sound, socially responsible firms, with reputable governance.
This only implies that Grow, as a tech app, might attract users that are younger. Perhaps this is because, on most occasions, younger individuals are typically selective regarding where they choose to spend their cash. For instance, studies conducted by Nielsen have revealed a larger proportion of millennials usually make sustainability a priority of shopping.
It is critical to note that this particular startup was co-founded by the Head of Product DeMaria Michael and Chief Technolgy Officer, Randazzo Antony. Michael boasts of a solid background in finance. The startup is led Chief Executive Officer Heske Doug, who is a Bay Area banking veteran who joined in March 2016. So as to establish exactly where to invest, Grow has designed its analytics tool and database device, Grow Analytics. This tool is aimed at identifying those investments which are in line with certain values, including governance, environmental and social, while additionally significantly reducing portfolio risk. It seeks out investments across assets classes, sectors, and industries too, with the primary aim of providing a diversified and a balanced portfolio. This implies that individuals can use Grow as their first app for robo-investing, but not as a supplemental product.
For you to use the app, first you instruct it on what type of values you care about most, such as the social or environment responsibility, for instance. You can add cash to Grow or plan a monthly deposit to fund the account of yours by linking your bank. Grow will then invest in your personalized portfolio automatically on your behalf.