Weltio
Weltio was a Mexico City-based fintech startup focused on asset management, offering brokerage accounts and automated investment services tailored for the Latin American market. The company ceased operations on October 1, 2023.
Company Overview
Weltio is a fintech company that specializes in asset management. Founded in 2022, Weltio offers a fully-fledged brokerage account in USD, alongside unique features such as local instant cash rails, a robo-advisor, and tailored portfolios designed specifically for the Latin American market. Although it ceased operations on October 1, 2023, Weltio was notable for its innovative approach in being the first LatAm W3 WealthTech for auto-investing in securities and crypto.
Services
Weltio's services included offering a comprehensive brokerage account in USD, complete with capabilities such as instant local cash transfers, a robo-advisor, and investment portfolios customized for LatAm users. The company aimed to simplify the investment process as part of its core service offering, targeting a market with over $60 billion in Assets Under Management (AUM) potential and 40 million accounts.
Industry and Market
Operating within the fintech industry, Weltio's sub-industry focus was on asset management with a particular emphasis on fintech and crypto/web3 sectors. The company targeted significant market potentials, particularly in Latin America, utilizing their innovative solutions to introduce auto-investing features for both securities and cryptocurrencies.
Y Combinator Participation
Weltio was part of the Y-Combinator batch S22. This participation provided the company with vital mentorship, networking opportunities, and access to financial resources, aiding in its early-stage growth and development.
Team and Operations
With a team of 15 members, Weltio operated from Mexico City, CDMX, Mexico, and offered flexible remote working options. Emphasizing a fully remote operational structure, the company served regions including Mexico and broader Latin America. Despite its cessation of operations in October 2023, Weltio's approach to remote work and regional service was a significant aspect of its business model.