Making the world a better place is no doubt a core belief of just about every startup. There are countless ways this belief might be manifested, such as making people happy, giving them new perspectives, helping them to earn. There’s nothing wrong with that — such beliefs drive humanity forward. At the same time, we startuppers see lots of things that could be improved and made easier than before.
Investing is one of these things. Nobody says it’s simple. Earning seasons, housing bubbles, margin calls: all these (and many other) terms are hard to digest for people who don’t have an economic education. Often, this can cause apathy and a reluctance to invest.
That said, proper investing can be fruitful and beneficial. Yes, it may be risky — like many things in our world. That’s why people need to understand what they are investing in and why. It’s better to learn how to properly invest your savings first, and then how to leverage your money potential. But that brings us back to the initial point that investing requires special skills. For that very reason, people tend to assume investing is difficult. But that assumption is dead wrong.
On the way to something new
We hold to the idea of making investment easy for anyone who wants to improve their economic hard skills, wants to invest in the things they believe in, and wants to make their money work in a more efficient way than in deposit or savings accounts. Everyone, from students to elderly people, should be able to manage their money in a proper, tech-savvy way without having to involve stockbrokers, wealth managers and other intermediaries.
So we thought about how we could lower the entry barriers to investing. What we came up with was to create a mobile app that could remove the complexities of investment, from stuffy terms to complicated calculations. We called it Orca (a killer whale, right?).
Our key research findings
We started by exploring the investing market in different countries, its players and promising comparable products, and we conducted an internal survey. First, we figured out that people don’t have access to information on investing that is expressed in simple, straightforward language. In the UK (where Orca will launch by the end of summer), for example, people lack investment ideas and proper market research to start investing. Our internal study showed that, due to complicated processes, over 70% of people consider investment to be a professional tool. At the same time, everyone surveyed told us they would want to start investing if there was an opportunity! Given this fact, however, almost half of people surveyed would quit investing if their first experience was not successful.
These key findings helped us set the direction for Orca. The most important fact was that we were familiar with those feelings, so we knew what Orca needed to completely change the painful, old-fashioned investment process. We took a deep breath and imagined what a perfect investment app would look like:
- Educational, so users can learn while investing and easily obtain necessary skills
- Transparent, reflecting all fees
- Helpful, so users always know what is happening at every stage of their journey
- Up-to-date, by providing industry news from our constantly-changing world
- Accessible, speaking users’ own language and quickly resolving their issues at any time
- Intuitive and super-easy
How Orca can help
We wanted to make the onboarding process as easy as possible, and to provide it in a conversational manner. Investing with Orca is seamless, without involving stockbrokers or wealth managers, as mentioned above. Once Orca is launched, UK residents just need to register and verify their identity to start investing.
Orca supports 200+ stocks, shares, ETFs and ETCs traded on the London Stock Exchange. Orca analyzes users’ investment risk level profile (conservative, moderate or high-risk) and suggests assets they may find interesting. At the same time, users are always warned that their capital may be at risk due to asset fluctuations.
In addition, we not only provide pop-up hints to help users in their investment experience but also easy-to-digest, high-quality educational content, encoded right into the app, so users can always focus on learning while investing. The whole investment process is closely tied to education, as if the user were a student and Orca the teacher, explaining the way the investing world works.
Of course, we do expect that there may be some uncertainties for users (especially just after the launch), so we also provide a kick-ass support chat to help users out 24/7. There won’t be any tickets, no emails, just friendly and helpful dialogue.
The overall support process looks like this:
Overall, Orca is a pocket companion, the investor’s little helper, always ready to support their financial endeavours.
Currently, we’re operating in a pre-launch mode. Users can register, join the waitlist and have the chance of winning £2,500 in shares after the official launch.
Lowering barriers and removing borders
We have tried our best to create a truly disruptive product. We believe Orca is great, and believe people will love it because the team behind it has faced the same challenges as its potential customers. If you feel the pain of your customers, know the barriers they often face and know how to lower them, then your product is likely to be successful. Try, perform, deliver! It will work!