Why we're backing Multiplo: investing in the next-generation AI wealth management service in the era of the great wealth transfer

Money plays a pivotal role in modern life, influencing nearly every decision we make. The Ipsos Global Happiness survey from 2023 found that after health and family, financial stability is often seen as a key driver of happiness across many countries, including Spain, and yet, money management is also one of the key factors of stress, worry, and mental health problems among the population.

The reason behind this dichotomy is that people lack both the knowledge and time to handle their personal finances optimally, and a trusted entity to externalize the task: from one side, people can’t afford a personal financial advisor due to their high costs or crazy investment minimums, and from the other side they do not connect with or distrust banks and specialized entities, usually providing biased recommendations towards the bank owned financial products or offering a too sophisticated service with a poor digital value proposition that doesn’t suit the majority of the population.

This picture seems particularly representative of the Spanish affluent millennials group, where an internally-realized customer discovery interview process among +70 of them revealed that 92% feel that personal finances are one of the most relevant aspects of their lives, and yet 90% experience significant challenges in managing their wealth, mainly because they lack the necessary knowledge (56%) or don’t have time to dedicate (39%). It can be confidently concluded that affluent millennials are extremely concerned about their personal finances, but lack both the knowledge and time to handle them optimally, and a trusted service provider to rely on.??

In a time of an unprecedented €3.3 Tn generational wealth transfer about to take place, where the real estate price increase is making housing inaccessible, and where the public pensions’ systems will become unsustainable, there has never been more need than now for professional financial advice for everyone.?

Here is where Multiplo jumps in: an AI-enhanced platform that offers a family-office-style service that guarantees full visibility and control over personal wealth, and access to a personal financial advisor, at a mass-market pricing. With Multiplo, people are able to aggregate all their assets and liabilities onto a single and intuitive dashboard, receive detailed financial planification tailored to each one’s personal needs and objectives and provided by a personal financial advisor, ad-hoc recommendations for the best financial products to execute the plan, and 24/7 in real-time advisory and support.

Multiplo’s vision is simple: they aim at becoming the reference wealth management provider on the market that people will love using, by offering understandable and effective solutions through a well-balanced human-digital type of service, onto an extremely intuitive platform; everything, at a mass-market pricing. What enables Multiplo to offer a family-office-like quality of service at a fraction of the price is the unprecedented efficiency obtainable through the close collaboration between AI, Generative AI, and financial advisors, that allow these last to attend clients faster and better, decreasing the costs for Multiplo to acquire and retain satisfied clients.

It goes without saying, the best companies and the best products are built by the best people, and Multiplo couldn’t be better equipped: thanks to their profound knowledge and complementary experiences in the financial industry, Cristian Merino and Angel Garrido form the best co-founding team for Multiplo.

On one side, Cristian is a strategic, structured and methodical professional turned entrepreneur at a young age after leaving traditional consulting as a top performer of the firm. Throughout his professional career Cristian developed strong managerial skills in the sector by participating in the definition of the business model and launch of Finanbest (one of the first roboadvisors in Spain) and by building his own consulting firm from which he led tons of projects in the financial industry for 15 years.

With the same years of experience in relevant technology positions in the financial industry in Spain, Angel is a top-level technology professional with profound knowledge of software engineering, payments, and product development, and one of the few tech people in Spain that is able to showcase such an extensive and international experience in building fintech products. In fact, aside from having held senior positions in innovation projects within La Caixa and Banc Sabadell, and becoming the CTO of Innocells (the innovation arm of Banc Sabadell), Angel was part of the founding team and worked as tech leader in his last work experience at Evergreen, a wealth management U.S. startup founded by Bill Harris, Founding CEO of PayPal.

Multiplo is also supported by a stellar advisory board composed of key personalities from the financial industry, asset management and AI applied to wealth management (soon to be announced!).?

Thanks to a perfect amalgam between a GenAI powered financial planning proprietary software and experienced financial advisors, Multiplo is best-positioned to democratize the access to financial advisory services with a product that will finally address the need of millennials for a trusted and effective service provider to take care of their personal finances.

A stellar co-founding team supported by the best-in-class advisors is working 24/7 to grasp this €1,5 Bn business opportunity in Spain, and further expand internationally on a mission to position Multiplo as the reference wealth management provider on the market that people will love using.