iQuantifi Targets Underserved Millennial Market, Aims to Raise $1 Million
iQuantifi, a virtual financial advisor, is on a mission.
The company -- spun off from CAP Partners, LLC -- was created to help people identify, prioritize and achieve their financial goals.
"The software platform that we built prioritizes all of the user's goals, and is essentially a virtual financial advisor," Tom White, iQuantifi's founder and CEO, told Benzinga.
When users register with the site, iQuantifi will help them identify what they need to do in order to accomplish a particular goal.
"It helps provide advice on exactly what they need to do, down to the very vehicle that the user needs to accomplish the goal," said White, "whether it's buying a car, insuring their income, saving for college or retirement."
"So the one thing that the system provides is advice: automated and personalized. That's something that doesn't currently exist in the marketplace," he added. "The only place that people can actually get professional advice is from an advisor. Here, iQuantifi is your advisor."
iQuantifi can also assist users by showing them how to save up for an engagement ring, how to prepare for moving into their first apartment or how to relocate after accepting a job offer in another location.
Designed For Millennials
iQuantifi was built from the ground up to serve a unique market.
"We target primarily millennials -- young families, young individuals, who don't have access to personal advice because they either don't have the income or the assets that traditional advisors target for profitability purposes," said White.
Now that the service is in beta, the company's goal is to acquire 10,000 users -- as soon as possible, of course.
"We self-funded up until this point," White added. "We are now opening our angel round now that we've built the product."
During this round, iQuantifi's goal is to raise $1 million.
Disclosure: At the time of this writing, Louis Bedigian had no position in the equities mentioned in this report.
Louis Bedigian is the Senior Tech Analyst and Features Writer of Benzinga. You can reach him at louis(at)benzingapro(dot)com. Follow him @LouisBedigianBZ
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