GoLogiq: Bringing Marketing Acquisition and App Development DNA to Global Wealth Management
One of the most interesting and nonconventional Fintechs you’ve never heard of
For the Love of Money
By 2030 over $90 trillion in liquid financial assets are set to be unlocked globally according to Bain . As the Millennials get further away from their youth and Gen Z enter the workforce, younger people in the Americas and Asia-Pacific are set to lead the charge when it comes to where they manage and grow their money.
With all that dough coming to market over the next decade, it’s no wonder why there’s been an absolute explosion of digital wealth management and financial management applications entering this growing and influential market.
Despite the competitive nature of consumer wealth and investment applications, there’s a new player in town that’s delivering a different set of DNA to the game.
Set to grow by acquisition and consolidation, GoLogiq is looking to bring a collective set of investing and savings, open banking, digital payments, lending and discounts / loyalty programs capabilities to the burgeoning Millennial and Gen Z market, with specific expertise in Emerging Markets.
Summary
- FinTech’s Not Dead
- A Non-Traditional Story
- It Pays to be Different
- The Bottom Line
Fintech’s Not Dead
Managing and investing someone’s money is one of the best businesses out there. It’s highly scalable, capital efficient and has a recurring revenue stream that can be extremely sticky. It’s no wonder why Bain estimates the demand for wealth management services is set to grow to $500 billion by 2030, double its size from 2021. While Fintech got its collective valuations smoked in 2022, there’s no denying the opportunities that exist when it comes to helping individuals spend, invest and manage their money, especially in emerging markets. As the global Millennial and Gen Z population get older, richer, and inherits the wealth of their parents, they’ll need someway to efficiently manage it.
Given how outdated, archaic, and inaccessible traditional wealth management is to today’s young people, most of them have become more self-directed and self-educated when it comes to their money. Who wants a UBS banker managing their funds anyway?
This is precisely why we’ve seen the race to build out comprehensive financial applications that connect spending, saving, and investing across the world. Now imagine an opportunity to get a flavour of what’s offered across financial apps and platforms like Gojek, Alipay, WeChat, Moneylion, SoFi, Stash, Dave and other fintech applications in a single place. Many organizations are trying to head down this route, but GoLogiq is taking a bit of a different path to get there; all wrapped up in AI.
A Non-Traditional Story
GoLogiq isn’t your average Fintech. It’s been around for over a decade and has a track record of building capable AI based fintech solutions for customers around the world. The company was born out of a spin off from its former parent company Logiq, an innovative provider of marketing acquisition optimization software. GoLogiq’s main business had historically been a collection of technology platforms that helped small businesses in Asia (Singapore, Indonesia, Malaysia, Philippines and Thailand) get fully online on mobile and conduct mobile payments. This extensive customer base, penetration in highly populated, tech-forward markets and core fintech competency presented an exciting opportunity to expand the platform into other financial services that would help GoLogiq’s user base build better financial lives. Kicking off 2023, the company merged with the billion dollar in assets Wealth Management platform GammaRey , and moved to acquire the mobile investing platform Nest Egg.
With its strong roots in mobile app development, e-commerce, AI, payments and now investments, GoLogiq is looking to execute on a vision for a comprehensive fintech platform that serves underserved businesses and consumers around the world.
Beginning 2023, GoLogiq is made up of three distinct businesses:
- GammaRey (Wealth management): $1.6 billion Assets Under Management (“AUM”) in mutual funds, ETF’s, Index funds, bonds, T-bills, and blue-chip stocks.
- Nest Egg: Mobile app-based investment and savings platform for Gen Z/Millennials to incrementally invest small amounts in mutual funds, ETF’s, Index funds, and stocks. Nest leverages GPT- 3 AI technology to provide users with AI powered investment tools like research and security selection .
- DNERO: eWallet for mobile app-based payments, cash transfers, purchasing and targeting for insurance products and credit/debit cards.
It Pays to Be Different
If there’s a company who’s paving an unconventional path to fintech dominance, it’s GoLogiq. Delivering fintech products via AI enabled mobile apps for decades across emerging markets and having deep customer acquisition automation knowhow in its DNA (via Logiq), gives GoLogiq a unique advantage.
The company’s legacy business customers will also likely give it access to an immediately lower cost distribution channel for its products. Considering larger fintechs who have been on a similar path as GoLogiq like Moneylion and SoFi spent ~$43 million and 427 million on marketing alone in 2021, this is a good thing.
Lastly, GoLogiq boasts a collection of top-notch board members and advisors from fortune 100 companies with significant experience in the investing fintech, AI and security spaces including long time Entrepreneur Peter Bordes . It’s long track record of successfully operating in Asia, has enabled it to build a strong network of international government relationships.
The Bottom Line
Looking ahead, GoLogiq remains on the acquisition path to grow its digital wealth management business and is set to bring on a total of $10 B in global AUM.
In 2023, key catalysts for the company will be: the consolidation of recent acquisitions, the closing of the DNERO merger, and up listing of its stock to the NYSE.
Once key strategic initiatives are complete, the launch of full-scale marketing efforts for Nest Egg and DNERO are set to take place in late 2023.
Learn more about GoLogiq here.
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