It’s nearly the end of the year and it’s time to reflect on our successes as well as challenges. Instead of writing a typical year end recap, I asked several Wealthica team members and partners about their own experience in the last 12 months.
“There was really two main goals for the team this year. Firstly, we needed to make sure we kept growing our user base (10,000 users at the time of writing). Furthermore, the total amount of aggregated assets in the platform went from $1 billion to $2.6 billion. We’ve been quite efficient with our marketing and advertising budget, focusing on channels that had the higher conversions per dollar and keeping our costs reasonable. We’ve also added support for importing data from 20 new financial institutions, so that Wealthica would appeal to a larger user audience, which would naturally bring more users into the platform.
Secondly, opening up the platform so that our users can make better use of their data, but also to third party developers so that they can build apps inside Wealthica. This was extremely important to me. We’ve layed out the foundation of our add-ons, published a library for writing Wealthica add-ons, and we’ve also welcomed our first partner into the platform. We started to generate some recurring revenues from our Google Sheets Export add-on which I’m particularly proud of. Next year we need to look at promoting our add-ons better, and continue pushing high quality add-ons such as Adjusted Cost Base and support for regular bank accounts.
I’m extremely proud and grateful of what the team has managed to do this year! I’m also very thankful to all our users that have supported us throughout the year, by sending feature requests, reporting bugs, or inviting their friends to try Wealthica. I’m definitely looking forward to 2019.
“For me the most significant milestone this year was receiving our first paid subscription for the Google Sheets Export add-on. Hearing the news from Simon is, I think, my happiest and most unforgettable moment since I’ve been with the team. The add-on platform has been our biggest focus for the year, and that first subscription is one of those things that tell us we have been on the right track all along, and all of our hard work is starting to pay off. Also taking over the Wealthica Mobile app from a previous developer and completing the first version in just one month was a challenge I welcomed. The app is still evolving of course, but I feel I’ve done justice to the design and most importantly it’s an exciting project where I can take some time off the Wealthica Web after the work with add-ons. I believe it would be the next big thing for us in 2019, making Wealthica even more accessible and more personal to our users.
“I’m definitely proud of the design of very first version of Wealthica’s mobile app. We’re working on the second version already, something with a different yet improved look and feel, as well as additional functions. Going from a complex web app like Wealthica to a mobile platform is never too easy, yet the end result has been great in my opinion. There are always different tasks from different fields to work on simultaneously and sometimes I feel that my time frame is rather short; yet at the end of the day we strive to do our best. Wealthica has a strong team and I’m so proud of being part of it.
“I believe that launching a marketplace for third party add-ons and providing APIs for developers to extract key information to provide even more value to investors was a crucial development and a great monetization strategy for Wealthica longer-term. ShareAlpha and I are most proud of cooperating with Wealthica to launch our add-on and to continue to work with a Montreal-based Fintech company like us focusing on maximizing the value-add for stock investors. While we focus on the Fin side of Fintech, Wealthica delivers impressively on the tech side.