They are doing well, completely rebuild the app so they now got a really platform to grow from and add more functionality. They have been steadily growing users as well.
They differ from those that you mentioned though, they don’t do roundups. Roundups only add up a little bit here and there. Chip has an algorithm that based on previous spending behaviours estimates your disposable income at the end of the month and then on a weekly basis takes some money from that.
Roundups hardly add up for me, but with Chip I save much much faster. They are also more flexible, when it knows you got an expensive month ahead, then it will take less money out, so you won’t go into overdraft.
I was lucky enough to invest them during SEIS although small amount as it is in very early stage so risk is high whereas FT, Chip etc referred in above discussion, the risk is much more reduced so higher investment. I like to invest in every round when company move towards maturity level rather than big one in initial round to avoid a situation like Tandem where after 1st round , 96% of value is lost (1st round share price £15, 2nd round £0.60).
That’s correct. Long story short, they were in trouble and additional money to acquire Harrods Bank (to gain the banking license along with loan book), it is price 1st round investors paid…this is the risk with startups . Of course recent round it recovered a little bit but way off from original round price
Tandem was different, there were already Monzo, Starling and others more advanced, Tandem got late to the party and executed poorly.
Genuine Impact doesn’t get late to the party, I have been looking for useful apps like this and the closest I have found was SimplyWallSt and I am not finding that one particular useful. You also got Stockopedia, but it’s rather old school and although they allegedly will release an app later this year, it’s desktop based. Srockopedia peices are also high - if you want UK/US/EU coverage you end up paying north of £600/year.
I think Genuine Impact has a real chance. I stuck £1k in them.
I found Genuine Impact rather deficient and not yet built up for adequate usage. The information is very minimal, it is comparable to SimplyWallSt as you suggested.
I like their roadmap, especially the portfolio analysis section, hence I hope they get better over time, as well as make proper design for iPhone X. For now, I do not see them any better than Koyfin (albeit desktop only) and alike.
They were very clear though that they put out an app that they were almost embarrassed about themselves, so people could at least have a play with the very very basic app before they decided to invest.
There is a reason they were eligible for SEIS funding - if it’d be all singing and dancing, they wouldn’t be so early stage.
Their roadmap is interesting and I have seen some demoes around visualisations that they are doing that look very compelling. To me at least.
As always, the proof remains in the pudding though.
Tempted to take a small bet too. I have read all posts on the campaign forum and watched all videos. Like the product, like the team, acknowledge the market need but yet I am having difficulty to connect all the dots and not 100% convinced why these specific guys want to address this pain point
Why do people prefer Genuine Impact to SimplyWallSt? As far as I can tell SimplyWallSt provides more information as well as explaining its metrics in a clearer way. Ultimately both are tools for reaffirming your own research, is the appeal of Genuine Impact that it is more streamlined?
I prefer SimplyWallSt for the design and visual stuff, they are clearly way ahead versus the Genuine Impact beta.
SimplyWallSt is excellent at screening the market based on individual scores. It pretty much does the same as my process for finding value stocks before. They have a checklist of “tests” a company can pass which gives them one point in that area e.g. If you P/E ratio over one, if yes then one point in value.
Genuine Impact takes a slightly different approach, the closest comparison is Stockopedia. They look at the ratios and then compare it against all other stocks.
I can do my own individual analysis for a company, which SimplyWallSt does in a great graphical way, what I can’t do is benchmark across the whole market.
For me that’s the key and why I’ve become such a fan, I can scan the market and get a nice top 5, top 10 firms I’m interested in and then do my deep dive into just those. So it help with reaffirming but I primarily use it to help narrow who I look at.
Plus they cover funds, which is super helpful for me. My portfolio has a split of stock picks and funds.
I’ve never thought of it in that way, I does speed up comparing stocks which was my biggest time sink.