Wealthyhood: Entry into Greece for the investment platform in 2022

by Matina Harkoftakis

Wealthhood is setting sail to gain access to our country, thus opening the door to Greek investors, who will now have the opportunity to use the services offered by the platform. After its successful debut about 2 years ago in the United Kingdom, the startup launches a dynamic entry in the place of origin of its founders, Alexandros Christodoulakis and Konstantinos Faliagas.

Debut on the Greek market by the end of the year

“We plan by the end of this year for the investment platform to go live in the Greek market as well, while at the same time we seek to submit the corresponding request to the Greek Capital Market Commission in order to obtain the necessary approval”, the founder and CEO notes to capital.gr Wealthyhood, Alexandros Christodoulakis, saying, at the same time, that the future expansion plans include not only our country but also other European markets. With over 8,000 users in the UK today, Wealthyhood is aimed primarily at first-time investors who want to put some capital into shares or other stock market products but don’t know where to start on their journey into the chaotic world of global markets. and thousands of shares.

Aimed at beginner investors

“At this point, Wealthyhood comes to provide a solution as an investment application, which helps the user to essentially “build” a personalized investment portfolio”, points out Mr. Christodoulakis, who made use of his previous experience as an employee at Morgan Stanley. In order to make the user experience even better, the application “breaks” the process into different parts starting with the stage of information about the value of investing one’s money and how this could be done in practice. It then helps the user to create a portfolio, which will fully meet their personal needs. “We take into account that every investor is different,” co-founder Konstantinos Faliagas adds in turn and adds: “Someone may be interested in the technology sector while another in luxury brands and the pharmaceutical industry. Therefore, we guide them in the direction which he himself chooses based on his preferences”.

Specific cost

On the other hand, the user has a monthly fee starting from 1 pound or 1 euro per month, depending on the plan chosen. “It is a very specific and predetermined cost, operating on the basis of a monthly subscription”, clarifies Mr. Christodoulakis and continues by saying: “Consequently the cost does not increase according to the value of your money, as is done for example in mutual funds, where the charge ranges from 1 to 2% per year, a percentage which may initially seem relatively small, however in a long-term investment, for example 30 years it translates into a third of the money”.

Launch for the mobile app as well

Currently, Wealthyhood has raised a total of 1 million euros, of which 40% came from the Greek fund Genesis and the rest mainly from various angel investors. However, in addition to its expansion to markets beyond Great Britain, the Greek startup plans to launch the mobile app in about a month, which according to the founders of the investment platform will offer an even better experience to the user.