Wednesday, September 26

Whaley Is An Aussie Fintech Making It Easy To Buy Stocks From Around The World

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Whaley is an Australian Fintech that lets you buy stocks from around the world at a price you can afford by allowing you to invest a set dollar amount, rather than by a round number of shares.

The company was founded by Sam Nixon and Matt Jones who originally met at a Hackathon that was sponsored by H2 Ventures.

After hitting it off at the Hackathan Sam and Matt made it into an Accelerator Program run by H2 Ventures where they looked at applying their skills for a couple of different areas in the investing space, before landing on the idea that eventually led to Whaley.

With some initial funding in the door from the H2 Accelerator Program the team were able to get their beta read for launch by the back end of last year. This timing would prove fortunate and Whaley found themselves launching on stage at TechCrunch Disrupt Sydney.

This ultimately opened up the doors for an additional round of funding that the company is currently in the process of raising.

Speaking with Startup Soda, the team at Whaley highlighted that despite the focus on fintechs, there are still a number of regulatory hurdles that are tough to get through and significantly slow progress.

In addition to that, Sam and Matt spoke about the challenging of finding that elusive “product market fit”. As this pivoted through ideas during the H2 Ventures accelerator program they realised that it can be a challenge to know when you have found something that sticks.

Leading indicator scores, engagement data and retention curves are a good place to start but you still often find yourself relying on a gut feel or hunch.

Having made it through to the other side with a product that is ready to go, Whaley is now accepting invites from investors for early access. With a pricing structure that charges just 0.5% per year on your total account balance, Whaley offers a low cost, mobile first platform that opens up investing to a much broader audience.

Reflecting on their journey to date Sam highlighted that at this early stage of a startups life a financial model is only as good as it is useful. Furthermore, Sam goes on to say that early stage startups only need to monitor their runway and “the best way to do it is via monitoring your monthly spend and then extrapolating from there”. In fact, the more granular you go the easier it is to make mistakes.

For other startup founders looking to get their idea off the ground Sam also recommends having a good grasp of marketing and the lean startup methodology. Therefore he follows Brian Balfour and Andrew Chen and rates books such as My Life in Advertising, Lean Analytics, Traction, Zero to One and The Lean Startup highlight.

You can find out more about Sam, Matt and their startup Whaley here.

This article is part of a new series at Startup Soda called “In The Trenches”, curated by Startup Soda Founder Paul Towers & Matt Trustrum through his work with Start Ups in the Start Up Hub

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About Author

“In The Trenches” is a series produced by Startup Soda Founder Paul Towers & Matt Trustrum through his work with Start Ups at the Sydney Startup Hub. Matt is an accomplished startup founder, mentor and investor who provides four hours of free mentorship as part of the Realise Business Program, sponsored by The NSW State Government. You can register for a free 4 hour session with Matt here.

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