Czechs often leave their money in bank accounts, save through savings accounts and do not realize that they could value their money differently, for example in the form of investments.
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The Czech investment platform Fondee wants to make investing accessible to everyone, not just the rich. It first appeared in January this year and was used by over 700 clients in September. Investors together earned several million crowns through Fondee.
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“Many people decide how to value their money, but often do not know where to go,” describes Hlavsa. According to him, the last nine months have shown that there is a demand for online investment platforms in the Czech Republic.
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The startup has now acquired a new investor, J&T Bank. It has invested ten million crowns in the Fund, which is to serve to accelerate growth. “For further growth, we could not have chosen a better partner than J&T Bank, which has an excellent name on the market and invaluable know-how for us,” says Jan Hlavsa, the founder and CEO of Fondee.
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“We see Fondee not only as an investment, but above all as an opportunity for us to find a new way of selling investments and get acquainted with new technical solutions. This is certainly not the only investment in the fintech area on our part, in the future we would like to establish another venture capital fund that will specialize in investments in this area, “says Tomáš Klimíček, Member of the Board of Directors of J&T Bank.
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Startup seeks to make equity and bond investments available through exchange traded ETFs, without entry, exit, performance fees and the need for an advisor. The goal of Fondee is to teach people to save and value their money regularly, other than in savings accounts. “It is necessary to educate Czechs and explain to them that investments are not only for the rich, but for everyone,” Hlavsa thinks.
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Eva and Jan Hlavs launched Fondee in January this year. Both founders drew on the financial experience they gained from nine years in London, where they were in charge of billions of pounds, mergers and loans in the City of London. “I think it was time to bring the Western style of investing to us in the Czech Republic,” said Hlavsa when launching the service.
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However, the Fondee platform is not the only online tool through which to invest. One of them is the first investment platform in the Czech Republic, Porto by Wood & Company, created by Radim Krejčí. Wood & Company is the largest trader on the Prague Stock Exchange, which manages money not only for international institutions, but also for thousands of Czechs, thanks to the Porto platform.
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