A Miami-based startup that helps people make investments has landed an investment of its own.
Dvdendo has attracted $1.5 million in seed funding round led by Ideas & Capital Fund and including existing angel investors, according to a news release. Dvdendo operates a high-tech financial management platform that develops and manages portfolios according to the risk profile of users. The funds will be used for customer acquisition and continued development of its technology.
This platform offers access to diversified equity instruments typically reserved for clients with high equity, as well as a a simple mechanism that facilitates and promotes the habit of saving through digital means. "Dvdendo was founded by a group of financial and technology professionals dedicated to making saving easy and automatic and making professional investment advice available to everyone," its website says. Users can open an account on Dvdendo from their cellphone and start saving with only $5, the company said.
The team is led by CEO Gabriel Montoya, an entrepreneur previously involved with Next University and before that was an executive at Cisneros Group of Companies, and by COO Matthew Meehan, a former portfolio manager and trader for Merrill Lynch and Lehman Brothers in Latin America.
To read more funding news of South Florida startups, go to the "funding" category of this blog.