A Tampa startup with a focus on the investment industry has officially launched to the public.
vigtec.io, an "investor discovery platform," launched its web app on Tuesday and plans to launch its mobile app in May. The company's aim is to appeal to both novice investors and longtime traders. It offers a research and investor education platform, as well as more advanced investors custom alerts, algorithms, content channels and market indicators.
This is the first foray into fintech for the company's founder Jonathan Gibbons, a serial entrepreneur in the Tampa Bay region. His last company, Compass HRM, was acquired in 2017 by publicly traded Texas company Asure (NASDAQ: ASUR).
"When we were doing our research with our last exit [with Asure], we looked at something technology would bring a change to and also [an industry that] had a strong demographic behind it," Gibbons said. "With Gen Z and millennials wanting to be so active in that [investment] process — which is pretty apparent with Robinhood's massive growth — we really saw it was a huge trend to get involved in, and a global trend."
According to Gibbons, the company will break down its users into three categories with offerings for each:
- Explorers: Typically “investing curious” and are encouraged to use the platform to learn about investing, create watchlists and have fun increasing their “trading IQ” in a safe environment that does not require putting actual assets at risk. Exploring is further encouraged by way of interactive games that offer a chance to win real cash prizes.
- Investors: Professional money managers who would be looking for advanced markets insights, which they can then use to better inform their own asset allocations and portfolio construction.
- Traders: Advanced investing tacticians looking for a competitive advantage and intelligence with regard to advanced investing vehicles, accessing vigtec’s data stream to build their own algorithms, alerts, indicators and content channels — or purchase subscription access to pre-built configurations.
The investment industry saw a major uptick in 2020. According to a study with participation from the World Bank and World Economic Forum, 12 out of 13 fintech verticals saw growth in the first half of 2020, with the number of transactions increasing 13%. Experts have pointed out a benefit of the fintech industry is the wide, international appeal — the fastest-growing field, according to the report, was the Middle East and North Africa.
While vigtec.io is based in Tampa, with Gibbons living in St. Petersburg, the company has a global focus. The majority of its team, which is roughly 15 employees, is based remotely and works across the globe including in England, India and Central Asia. Gibbons said 25% of the company's beta users are non-U.S.-based.
"The global potential for what we’re doing is how we’re really looking at it," he said, adding the platform is offered in multiple languages.
The company has raised a $325,000 seed round, according to Crunchbase. Gibbons said vigtec.io will be seeking a Series A, potentially later this year, for an undisclosed amount.
"We've been fortunate growing behind the scenes and not being known," he said. "Sometimes you don't have to put yourself out there to scale — so that is a priority for later '21."
