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Finerd is an automated investment management solution platform that operates out of Dubai. The service was created by David Martínez de Lecea, who currently acts as its CEO, and his partner, Nicolas Fotilas.

Looking at the pair’s experience and academic background, a venture into financial technology (fintech for short) seem like a natural outcome of their career paths:

De Lecea combines an academic background on computer science and business administration with many years of professional experience in financial services. He serves various roles in the fintech industry: advisor, investor, consultant, entrepreneur, but his passion lays in Finerd.

Fotilas on the other hand commands extensive experience in investment banking and entrepreneurship with several successful ventures launched. He is also a Partner at Gulf Investor Circle Group (GIC), where he has invested in a number of startups. “Once he came across Finerd and its potential, he thought it was a no brainer,” explained de Lecea.

De Lecea had kept an eye on fintech for a while, he had followed the development of this new business model in the US and even acted as an advisor for a similar venture in Europe. After moving to Dubai, he got a sense for the investment needs of GCC residents and soon realized that this new method of saving and investing would bring great benefits for these markets.

He teamed up with Fotilas, an old business school friend with extensive entrepreneurial experience and contacts in the region, and Finerd was born. Harnessing the power of the latest technology, rigorous academic research, and transparent management, the service provides intelligent investment solutions for everyone.

Anatomy of an Automated Investment Solution

Finerd promises to be efficient, as costs have been significantly reduced by automating key processes, removing layers of intermediaries, avoiding conflicts of interest and investing in a selection of passive, low-fee, tax-aware instruments.

It is secure, since money is kept in an offshore jurisdiction with one of the biggest broker/custodians in the World. It is sophisticated, because it offers highly diversified investment portfolios designed and managed with proven sophisticated strategies. It is transparent, with a clear description of the costs and prices involved, and no hidden fees.

In addition, it is customized so that each investment portfolio is designed to the client’s personal goals, risk tolerance and investment horizon. Finally, it is convenient, offering the ability to track and manage portfolios automatically 24/7.

The service is available to all nationalities, except US citizens. Users must be adults (or adults opening accounts for their children) and there is no minimum amount required. “That is one of the characteristics of the product, we offer sophisticated investment solutions without the need of having one million dollars,” said de Lecea.

The money will be invested in a very diversified portfolio of stocks, bonds, and real estate all over the world (North America, Europe, Asia, Latin America, GCC, Emerging Markets, etc.) according to their profile and needs.

Expanding from Dubai to the MENA and GCC

Why Dubai? “Because it is a great place to live in, and Dubai residents need this solution. We already have many clients asking when they can invest. Finerd comes to the market with a unique, fair, and transparent offering. In addition, Dubai aspires to become the worldwide center for Islamic Finance and Finerd is launching soon its Islamic version of the product,” explained de Lecea.

“So far the interest is enormous,” he continued. “We have a long of queue of clients waiting to have their accounts opened as soon as we complete the regulatory requirements. Moreover, venture capital investors are very keen in investing in fintech and the Finerd model, so we will be bringing new partners on board soon.”

Finerd offers two distinct solutions that serve two distinct segments. One is tailored for expats who want to save on the long term for their retirement, children’s education, house, and so on. The other is a Sharia-compliant solution that brings this new way of investing to the Islamic world.

The idea for Finerd had been brewing since 2014, and the company officially launched in April of 2015. For the near future, Finerd’s focus is to get established in the local expat market with their existing product. In a few weeks, it will be launching an Islamic solution.

“Our future plans are to expand internationally across the GCC and MENA. Interestingly enough we have already been approached by investors and entrepreneurs who wish to take Finerd to Hong Kong and China,” said de Lecea.

Did You Say “Finerd”?

If you are curious about the name like I am, here’s de Lecea’s detailed account of how it came to be:

“We were looking for a short, memorable name that reminds of financial technologies and inspires security and cutting edge know-how. After months of brainstorming, we were discussing names in a long taxi ride and when we came up with Finerd, we thought that “Fin-” clearly represented the financial nature of our business while “-nerd” fit well with our approach of meeting people’s financial needs with a solution based on rigorous academic research and cutting edge technology.”