akt - the world’s first wealth-centred neobank
by Startacus Admin
The lowdown on akt, the fintech startup that enables you to create wealth through automated investing and earn daily interest payouts
Investing is an interesting, exciting, and scary proposition for most people. It’s a thing that people do on TV and make millions from it, a thing that you hear about a friend’s uncle being involved in and losing everything, a thing that you’d like to try if only you had some disposable income to shove into an investment.
We have written about this only recently, but trying your hand at investment isn’t usually something you want to do lightly; however, if you are careful about it, it can be a rewarding thing to get involved in, and there are some startups helping you to make the most of it.
French, London-based fintech startup akt (previously Automata) is one such business. akt is the world’s first wealth-centred neobank, which essentially means that you can make money through automated investing (hence their previous name of Automata, we suppose), which pays out daily interest.
The particularly unique thing about akt is the ‘Wealth Card’, which is like a debit card that you can use to pay for things using those daily interest payouts instead of digging into your bank account.
The automated investing is done by akt’s WealthBot, run by proprietary algorithms, and which creates a diversified cryptocurrency portfolio tailored to you personally. It is rebalanced and optimized multiple times a day by the aforementioned algorithms to keep it as smart and on the ball as possible.
Your capital is moved around as the WealthBot sees fit, taking advantage of fluctuations in the market, and reducing risk as much as possible while getting you the best returns possible. As well as cryptocurrencies, your WealthHub allows you to invest in brands. Think that little upstart SpaceX might be going places? Maybe you can find them and invest for when their stock...wait for it...skyrockets. (Disclaimer: SpaceX isn’t publicly traded, that was purely for the incredible pun).
In November, akt raised €1.5m in private investment as part of its Series A round, which brought the total investment to €2m while that round was still ongoing. Their goal is for €7m to further develop the technology behind their neobank.
We would be remiss not to end this with a reminder of how dangerous investing can be, even with the smartest of AIs doing the work for you. Take another look at that article linked in the opening paragraph and always be sure of what you’re getting into!
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Published on: 13th December 2020
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