Carlos Mata: "Vumi helps make better investment decisions"

Carlos Mata, one of the founders of Vumi, told us about the evolution of this company created by young talents and which is growing at a dizzying pace thanks to its functionality, making it a very attractive tool for investors.

Origin

Vumi made a radical shift in its business model towards investment services firms

The idea came from Óscar Méndez and myself, two private investors with our own portfolio for the last four years. We faced the problem that we could not monitor their investments in a simple and feasible way, which made it impossible to know the real performance of our portfolios. This makes it difficult to make sound decisions and worsened profitability.

After identifying the need, and with the participation of Martín Rico, the third founding partner, they set up the company with a capital of €3,000. In July 2022, a capital increase + premium of €25,000 was subscribed by José Javier González, a professional in the financial world with more than 30 years of experience as a manager in the sector.

Initially, the company was oriented towards individual investors (B2C) but in December 2022, Vumi made a radical shift in its business model towards investment services companies (B2B) that need this type of tool to scale their business.

How does Vumi work?

Vumi's mission is to bring people, data and technology together to help make better and more informed investment decisions. We are proactively building technology so that professionals, who are responsible for making investment decisions, especially for high net worth individuals, can do so securely, in a more agile and data-driven manner.

We provide financial advisors with the real-time portfolio reporting and analysis needed to make and implement better investment decisions. By helping people achieve the best possible results, we help financial resources flow to more impactful investments and ideas, benefiting our society as a whole.

What makes it different from its competitors?

Vumi, of course, does not reach the number of functionalities of competitors that have been on the market for more than 20 years.

However, Vumi differs in one key area, namely the automatic consolidation of investment data. Vumi extracts investment data, regardless of the bank, normalises and analyses that data, and presents it in a highly visual way to the financial advisor so that he or she can make better decisions instantly. 

In addition, the financial advisor can create and send reports en masse to his clients without the need to do any manual processing, or to bother the client by asking for the positions of each of these banks. This allows the company to scale its business without limits, saving time and costs.

Vumi aims to offer all possible tools to digitise and automate all the processes that a financial advisor has on a daily basis.

New products

Vumi is currently working on reporting 2.0 which is much more customisable, more functionalities and a better design than the first version. This new version will be available in December.

Another major milestone in the product roadmap is the investment proposals. This is key for the financial sector, and where we automate some of the manual processes that exist when making an investment proposal to an investor. It will be available in the first quarter of 2024.

We are also planning to develop an API by 2024. This will allow us to have more optionality when selling, increasing the number of potential customers and services.

Making the investor's job easier 

No installation is required, and it works as plug & play

Our idea is always to think about how we can make life easier for the financial advisor. User experience and ease of use is one of the great advantages of Vumi. 

No installation is required, and it works as a plug & play. The customer can create unlimited terminals for all his advisors and the advisors can provide a Vumi to each of their customers, without the need to contact Vumi and at the click of a button. 

One of the main pillars of Vumi is security. For Vumi, safety is our priority. We have a cybersecurity expert on staff who has developed a very robust infrastructure for exceptional security.

In addition, Vumi will be ISO 27001 certified in December, which certifies that we comply with all information security standards.

Company recognised by Enisa

We have recently received recognition from Enisa, a public entity that grants participative loans to startups. Vumi was certified as an Emerging Company by this entity.

This loan is a great achievement for us, as it ensures that we improve and increase our investment in technology. This cash injection will allow us to find the best possible product for our customers and to accelerate the number of functionalities.