Weltio, a Y-Combinator alumni that aims to service Latin American investors with an investing app, is raising growth capital on Wefunder.
According to the offering page, Weltio is aiming to raise $1.15 million in a SAFE with a $15 million valuation cap. So far, Weltio has raised $969,104 of its goal in a side-by-side offering issuing securities under Reg CF and Reg D. While Reg D is for accredited investors, Reg CF accepts non-accredited investors as well. So far, the bulk of the funding has been raised under Reg D – under the same terms as Reg CF. Weltio previously raised $950K from several VCs and angel investors. Weltio is taking reservations for its offering so documents are not yet available.
The Fintech startup was launched just two months ago and reports $85K in assets under management while growing 10% to 20% a week. Its App is currently available on both iOS as well as Android.
Weltio is targeting a market estimated at $60 billion as they aim to gain traction in an underserved market. Weltio claims to be the first Web 3 wealth management platform for Latin America. The service will offer an “auto-pilot” platform for investors to participate in stocks, ETFs as well as 30 different digital assets.
Weltio’s founders have applicable experience. Co-founder and CEO David Abusaid has more than 12 years of experience providing consulting services to financial institutions with McKinsey and Oliver Wyman. Co-founder George Marvin has worked at Klarna and Wayfair while also spending time at McKinsey.
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