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Financial tech Trailblazer Fintron launches version 2.0 of its education-based investing app for the mobile-first generation

Stamford, US, 29 Sep. 2022, 14:44 CEST
Financial tech Trailblazer Fintron launches version 2.0 of its education-based investing app for the mobile-first generation img#1

FinTron, Inc., a fast-growing financial technology company uniquely promoting financial literacy and freedom for the mobile-first Gen Y (millennials) and Gen Z, introduces FinTron 2.0, an enhanced version of its education-based, commission-free brokerage application. Highlights of FinTron 2.0 include a new rewards engine to incentivize users to learn personal finance and practice healthy financial habits; an expanded education portal; and greater functionality overall.

"FinTron 2.0 is a game changer," Wilder Rumpf, FinTron founder and CEO, said. "The upgraded features represent everything our team envisioned when we committed to inspiring and helping our digital generation take charge of their personal finances. It's our next-gen approach to financial education – free, mobile access to hundreds of interactive content modules curated by financial professionals. Not only do we provide contextual education that can change outcomes for the better - we now reward our clients for their efforts and dedication to learning."

As the average FinTron employee is 25 years of age, it's at one with its target audience of Gen Y/Z users. Rumpf, 26, founded the company in 2017 which, in 2019, became one of the youngest firms to register as a broker-dealer (FinTron Invest LLC) with the Securities and Exchange Commission (SEC) and become a member of the Financial Industry Regulatory Authority (FINRA). It has since created a national digital footprint serving clients throughout the U.S in all 53 states and territories. In 2021 alone, it acquired nearly 12,000 new users and expanded its head count by more than 300 percent.

Development of FinTron 2.0 was fueled by the company's latest round of Series A funding, for which Rumpf is immensely grateful. The funding was secured in April 2022 for $6.5 million, which brought the company's total venture capital support to nearly $10 million. Major backers include AUA Capital Management (Goya Foods family office); the State of Connecticut's venture capital arm, Connecticut Innovations; Webster Bank; and Sage Venture Partners whose founder, Fred Warren, was one of Apple Computer's Series A investors and named a "pioneer of venture capital" by the Wharton School (of business) at the University of Pennsylvania.

"We consider ourselves altruistic capitalists," Rumpf said. "We have a dual mission: The first is to improve the financial literacy of our generation – because we firmly believe that financial education is the key to making sound decisions and achieving long-term success in life; and the second is to make investing accessible to everyone by lowering its costs and simplifying its practices. FinTron 2.0 makes personal finance easy and affordable – and fun – for people of most any age and income. We're confident that it will help bring financial inclusivity to our generation."

FinTron 2.0 Highlights

Investing Features

  • 2,000+ commission-free, fractional stocks and exchange traded funds (ETFs), permitting investors to buy into big-name companies such as Amazon and Apple for as little as $5/share instead of paying full share prices that can reach well over $1,000.
  • Automated tools (Deposit; Budgeting; Repeat Investment)

Incentive-Driven Rewards (*New with FinTron 2.0)

  • Rewards Center to encourage users to set and achieve budgeting and deposit goals
  • Redeem points (e.g., by completing education modules or meeting budgeting and deposit goals) to earn gift cards to popular brands such as Apple, Airbnb and Delta Airlines

Education

  • FinTronU, a free education portal, offering nearly 1,000 modules on dozens of financial topics such as investing, saving, taxes, retirement and credit cards
  • Simulated trading game for users to learn and practice investing with simulated cash

Philanthropy

  • FinTron has committed to dedicating five percent of its post-tax profits to create financial literacy programs for high schools, colleges and universities throughout the U.S.
  • The FinTron team, through FinTronU, has voluntarily presented financial literacy and entrepreneurship programs to thousands of U.S. high school and college students across the country.

"For decades, investing has been far too complicated and accessible only to the wealthy," Rumpf said. "With FinTron 2.0, we're proud to balance the scales by helping our generation become financially confident and savvy investors."