Strabo launches first global personal finance platform
London-based fintech Strabo is this month launching the world’s first global personal finance dashboard. Inspired by the likes of Mint, Personal Capital and Yodlee, but keen to expand coverage to more countries and asset classes, the founders are also more investment-focused.
Describing the platform as “Notion meets Google Analytics” for personal finance, they are intent on providing a deeper level of investment and asset analysis, both with regards to previous spending and forecasting to custom goals and onto retirement.
They have found particular affinity with the expat community in London, as well as the burgeoning FIRE (Financial Independence, Retire Early) movement, which has see a huge increase in popularity through the course of the pandemic on Reddit.
The travel-loving start-up works by linking multiple accounts from multiple countries in one place, using open banking APIs. They are moving a waitlist of several thousand users over to the full version of the platform, which is available now.
The firm’s name is a reference to the Greek geographer and historian Strabo, who did a lot of travelling and writing 2,000 years ago, and is one of the creators of the modern map.
“Strabo began when Mike, an American professional living in London, could not find the answer to a simple question: ‘how much money do I have, everywhere?’ Work had taken Mike to many places, from the United States to Brazil, and from the Netherlands to the UK.”
He adds: “Working from a cafe in Shoreditch, Mike dug deep to find out! He began opening all his accounts one by one and tracking them on Excel. 2 hours later, he only had 80% of the answer! ‘There must be a better way!’ he exclaimed.”
That is where Strabo comes in. The firm uses open banking APIs to connect a user’s accounts in one dashboard. The idea is to “track all the money that you own and owe” and “get a holistic outlook of your net worth instantly”.
Its website mentions live bank feeds, credit cards, mortgages and loans. It also offers a way to track and forecast investments, pensions, debts and taxes – with the expat market in mind. These feed into custom tagging for accounts, editable goals and forecasting towards retirement and beyond. They are taking signups to the first launch of the platform for a limited time at https://www.strabo.app now!
Strabo Financial Ltd.
32-38 Leman St
London E1 8EW
Strabo was founded by Michael Magdongon, Ben Waterman and James Hunter in 2021. It is based in London and has raised one round of financing from angel investors, a UK VC fund and one crowdfund with Seedrs.
This release was published on openPR.