Haarlem RevenYOU does crowdfund and raises almost 3 million during the Christmas season
10-1-2020. In addition to the successful crowdfund, the fintech from Haarlem attracted about 2500 Dutch users for its investment app BOTS. The BOTS app revolves around algorithms and artificial intelligence used for investing.
For the startup founded in 2017, this is the second crowdfund. The goal this time was at least 900 thousand euros, but it was reached within 8 hours. In the first week of January, the counter stands at 2.47 million euros. The crowdfund runs until 25 January. An earlier crowdfund last year raised 1.4 million euros in 17 days.
The future lies in robotisation, artificial intelligence and data. This trend is highly relevant to investment. Michiel Stokman, CEO and one of the three founders: 'Investing with bots will definitely break through in 2020, it's smarter and more fun. The technology is developing at lightning speed and ensures that everyone can invest smartly. First up is the Netherlands.
Up to 10.000 Dutch as testers for European rollout of BOTS
The BOTS app is now live in 'beta' stage and the largest part of the 3 million goes to improving the technique. The app is in 'beta'. In app circles the name for the phase between prototype and ready. The number of users, or turnover, is not yet real. The test pioneers are providing the company with crucial knowledge to perfect the app for the European launch at the end of 2020. "Anyone can participate, but we're going to have up to 10,000 users in the test phase," Stokman says. "Participation is at your own risk, the few 'investment bots' that are now on the app did about 15% in just 1 week, which is high, but we still recommend working with small amounts.
The BOTS app is a creators platform, like YouTube
RevenYOU has managed to apply the underlying concepts of YouTube, Spotify and Netflix to the immense, all-encompassing investment world.
The BOTS app is next to a fun, easy to use investment app a central platform. On the platform, teams can share knowledge and create an algorithm together. In this way, a smart investor can work together with a smart team that collects all data on consumer confidence, interest rates, purchasing power growth, investment trends, stock market confidence and hundreds of other factors.
With this model, entrepreneurs Colin Groos (34), Michiel Stokman (46) and Stefan Bijen (29) of RevenYOU want to shake up the world of investment.
We don't perform miracles
In a few months the app will go from test phase to 'live'. From then on, anyone with 50 euros can invest with the same knowledge and intelligence as the top investors as Goldman Sachs. "We don't have the wisdom. It's the platform that brings all the financial top talent together on one app." explains Groos. The BOTS app is only the facilitator. Just like YouTube doesn't make its own films as a core task, we don't invest ourselves. It's the platform that makes the best algorithms emerge from the global pool of developers. These algorithms (the bots) are used to trade.
RevenYOU has an idealistic goal. Co-founder Michiel Stokman: "If something in the world is unevenly distributed, it is a return on capital. The rich get richer, the poor get poorer. Unfortunately, this process is currently accelerating. It would be great if the algorithms would give everyone in the world equal opportunities for return. This is our mission.
"Panic can be measured," the BOTS say.
Why algorithms are better investors? Companies like IMC, Optiver, JP Morgan and Goldman Sachs do nothing but algorithmic investing. Manual investing is something for private individuals.
Stokman: "Technology can do some things just better, An example: the airplane and the elevator are the safest means of transportation in the world. A train's safety system is algorithmic. Our dikes are monitored with algorithms. If you want to invest safely, you want to invest with algorithms."
The algorithm trend is accelerating rapidly. With the addition of Big Data and enormous computer power, investments are more profitable combined with lower risk. "Panic can be measured." said Groos. The real added value of course lies in this technology, but perhaps even more so in making it accessible to the whole world, to everyone. And never forget: the smartest algorithms are still made by man," says co-founder Michiel Stokman.
Investing is for everyone
Everyone should be able to invest. And now they can. With BOTS. Together we are going to make the world of investment fairer and more transparent. Are you interested, but your question hasn't been answered yet? Take a look at the FAQs on our site. Or contact us, we will be happy to explain it to you in person.
The BOTS app is now live