Date: 02 march 2021
Author: FINTECH Circle
Welcome to ‘Startup Focus’, new Q&A-style fintech insights! This week we speak to Krasimir Kirov at Madara Invest. Find out how they’re changing the future of finance.
How would you describe your company in one sentence?
Revolutionizing investment banking industry and bringing it digitally to all the people in the world for good.
Tell us why your company is a game changer for our industry?
Madara Invest is a game changer, because it is revolutionizing true investment banking level of services and bringing it to all the people for a good cause. There is no other solution on the market that combines professional trading and asset management offering and full banking services such as current account, multicurrency debit and credit cards, loans, etc. We are building this solution, so people will not need to have one account for multicurrency card, another for trading and investments, another for loan, another for holding money with a regulated bank and so on. Up to now this level of services were privilege of the wealthiest people that are clients of the big investment banks.
Furthermore, our solution is completely digital and cloud based, so it is easily scalable and not dependant on the licence of another company or bank. Thus, our clients and investors can rest assured. Moreover, we are proud that our project is a socially responsible one. This means no financing for arm manufacturing and similar industries and 10% of the profit on holding level will go to charities for children every year.
What has been your biggest achievement so far?
Our biggest achievement to date is successfully laying the foundations of the Madara Invest project.
- Acquiring fully FCA regulated investment company within our portfolio of companies;
- Completing successfully pre-assessment stage for obtaining our banking licence;
- Building beta version of our app and related infrastructure.
In order to complete such important achievements, it usually takes substantial amount of money and time, while we successfully manged to do it with only a fraction of the resources. Which positions us better for the future and raises the value of the project itself.
What has been the greatest challenge leading a startup?
Finding the right people. I am glad that we have managed to work with professional advisors and partners that always give us a big hand.
What is the biggest lesson you’ve learnt from your fundraising journey?
The biggest lesson I learnt from my fundraising journey is that the money only comes in the right moment – not before, nor after. You should be 100% honest and transparent with your investors. After all they are on your side.
Your advice to anyone starting out as an entrepreneur?
First – make sure your idea is a killer one.
Second – be brave and trust your instincts. The dawn comes just after the darkest night, so never give up.
Third – look at the first two.
Krasimir Kirov is the Founder and Managing Director of Madara Invest. Prior to this position, he was Managing Director of Hanson Asset Management (FCA authorised and regulated) a successful London based wealth management company. Prior to joining HAM as a Managing Director, he was CEO of a fully licensed and regulated asset management and brokerage firm that is a member of Deutsche Börse Group. Under his management, the company won various industry awards, reached an annual transactions value of over GBP 0.5 billion and assets under administration of over GBP 250 million.
Krasimir holds MBA from the Vienna University of Economics and Business (WU), M.Sc. from Nottingham Business School and further specialized in Harvard Business School. He is a member of the CFA Society of the UK.
He participates in international industry forums and events as a guest speaker or lecturer and his contributions are regularly published in financial journals.
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