Finvest app will have you invested in US Treasury Bills in minutes

Finvest app will have you invested in US Treasury Bills in minutes
Written by Editor N4GM

Finvest’s goal is similar to those of apps such as Robinhood: to simplify US Treasury Bill investing.

Shivam Bharuka, co-founder and CEO of Get Moving, began work on Finvest in 2023. According to TechCrunch’s report on him, Bharuka took advantage of an environment with high-interest rates but banks only offering pennies off each dollar as capital for lending purposes.

U.S. Treasury Bills offer you an opportunity to profit from high-interest rates without risking idle capital.” However, Bharuka noted that buying Treasury Bills has become difficult. You have several choices when purchasing them – traditional brokerage firms like Fidelity or Charles Schwab can assist, or the government website Treasury Direct from the 1990s which often features cumbersome user interfaces and opaque transactions; alternatively most contemporary fintech apps do not permit investing into fixed income securities directly.

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Bharuka was accepted into the Winter 2023 Y Combinator batch as part of an Indian logistics startup; however, once realizing their shortcomings as purchasing Treasury Bills became clear to him he decided on another path altogether.

Finvest, created with his team at Pershing Advisor Solutions LLC of Bank of New York Mellon Corp, automates the purchasing, managing, and selling process for US Treasury Bills.

Finvest operates like this: Installing its iOS or Android apps enables users to quickly sign up, link bank accounts and begin depositing funds. Finvest has made this possible so trades will begin as soon as the account has been approved – meaning users are ready for action as soon as Finvest opens a brokerage account!

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Finvest also charges an annual management fee equivalent to 0.033% on the daily market value of your Treasury assets, in addition to monthly management fees.

Bharuka isn’t alone in hoping this process could be simplified; with Sequoia’s backing, Zamp Finance now provides an accessible treasury management platform which facilitates more accessible access to US Treasury Bills. Finvest also offers high-yield cash management accounts with 4.4% yields higher than most savings accounts–making their offering even more appealing.

Although Bharuka did not reveal how many users have downloaded its app since launching it last December, about $1 Million worth of deposits have already been made via Bitcoin deposits since the launch of Bharuka’s app.

Furthermore, they have secured $2.7 million from an angel investor consortium comprised of Oliver Jung (former CEO of Airbnb), Bayhouse Capital, Unpopular Ventures, and Y Combinator Olive Tree Capital Pioneer Fund Fractal Ventures investors.

Bharuka plans on investing the proceeds in expanding Get Moving’s technical staff and eventually adding asset classes such as corporate and municipal bonds into Finvest’s app.

“Our intention is also to launch this internationally. There has been much interest among Latin American nations like Brazil and Argentina where economies could use improvement; those seeking an accessible method wish to invest in stronger economies.

Source: Techcrunch

About the author

Editor N4GM

He is the Chief Editor of n4gm. His passion is SEO, Online Marketing, and blogging. Sachin Sharma has been the lead Tech, Entertainment, and general news writer at N4GM since 2019. His passion for helping people in all aspects of online technicality flows the expert industry coverage he provides. In addition to writing for Technical issues, Sachin also provides content on Entertainment, Celebs, Healthcare and Travel etc... in

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