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Investing can be a daunting task, especially for those who are just starting out. With the ever-changing market trends and complex financial instruments, it’s hard to know where to start. But what if making investment decisions could be as easy as becoming part of a global community that uses the power of Artificial Intelligence (AI) to make better investment decisions? That’s where Pynk comes in.
Pynk is a London-based startup that aims to disrupt the traditional wealth management sector by leveraging the collective intelligence of the crowd. They’ve created a platform that allows everyday people to invest smarter together by harnessing the power of AI and crowdsourcing. Here’s a closer look at what makes Pynk tick.
The Wisdom IN Crowds™
One of the key features of Pynk’s platform is what they call the Wisdom IN Crowds™. It’s a system that allows their community of over 25,000 members from more than 185 countries to make predictions and forecasts on financial assets. These members come from diverse backgrounds, including traders, analysts, academics, and everyday investors.
The Pynk team collects and aggregates this data from the crowd, and then uses machine learning algorithms to read the markets. The result is a wealth management platform that provides smart, data-driven insights to help investors make better decisions.
Pynk was founded in 2018 by serial entrepreneurs Seth Ward, Rupert Barksfield, and Mark Little, who have a combined commercial track record and successful exits from other businesses. The team met and graduated from the Silicon Valley-led Founders Institute programme, a startup accelerator that helps founders turn their ideas into viable businesses.
Since its inception, the Pynk team has been supported by RBS and Natwest banks in the UK, 360 Labs, and has raised $2m in pre-seed and seed rounds. Their next raise is set to open up in Q1 2021.
Pynk’s platform is designed to simplify the investment process and make it accessible to everyone, regardless of their experience level. The platform is easy to use, with a simple user interface that allows investors to track their investments and stay up-to-date with market trends. Pynk also provides users with a gamified experience that encourages participation in the community, with points and badges awarded for making accurate predictions.
The platform is free to use and charges no management fees, making it a cost-effective solution for anyone looking to invest. The company’s revenue model comes from its partnership with eToro, a leading social trading platform, where Pynk is registered as an Introducing Broker. This means that Pynk receives a commission when a user opens an account with eToro through the Pynk platform.
At a time when traditional investment options are becoming increasingly complex and expensive, Pynk is disrupting the industry by making it easier for everyday people to invest smarter together. By leveraging the collective wisdom of the crowd and the power of AI, Pynk is changing the way we invest, democratizing access to investment opportunities and offering a cost-effective solution that’s accessible to all.
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