MyWallSt to provide investment app for online US college

Irish fintech MyWallSt, which provides advice on what shares to buy and when, has partnered with one of the largest online universities in the US on a new app for its students.

MyWallSt co-founder Emmet Savage said the partnership was one of several the company is lining up with organisations as it begins to roll out products in the B2B (business to business) space.

The company is developing a customised version of its popular investment advice app for Colorado State University Global, which has almost 19,000 students in more than 40 countries.

The app is primarily for the university’s online BS in Finance degree programme. It is intended to provide students with the necessary tools to apply financial knowledge – including terminology, theories, concepts, and skills – in practical settings.

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Formerly known as Rubicoin, MyWallSt has raised about €8 million since it was founded by Mr Savage and John Tyrrell in 2013. Backers include the well-known investment advice group Motley Fool, which has a 15.5 per cent stake in the company.

The fintech is best known for two highly popular mobile apps that help demystify the stock exchange. Learn is a free app that provides straightforward information on investing for beginners while MyWallSt, a subscription-based service, handpicks a small number of stocks to back.

Strong subscriber base

The company does not disclose revenues. But Mr Savage said that since December turnover has risen on the back of a new premium business-to-consumer product called Horizon which it is hoped will grow a portfolio tenfold in 12 years. He added that revenues from its new B2B solutions are expected to account for 35 per cent of all turnover by the end of 2020.

MyWallSt, whose primary market is the US, has subscribers in 65 countries and users in 140 jurisdictions.

More than two million downloads of its various apps have taken place to date and they have consistently ranked among the most popular investment apps in multiple countries in the Apple and Google Play stores.