Finance + FinTech Meetup
Om Kundu, Founder of InSpirAVE Discusses Multiplying Savings to Fulfill Big-Purchase Goals at BE.IN’s Finance + FinTech Meetup
BE.IN meetups are aimed to bring together faculty and industry in related fields, to forge connections that ideally lead to the development of job and internship opportunities for Brooklyn students and graduates; they also aim to educate faculty and industry professionals on interesting trends or upcoming startups and entrepreneurs. At November’s meetup, BE.IN was honored to have Om Kundu, founder of InSpirAVE discuss his organization.
InSpirAVE, which is in the beta phase and has been recognized as one of the FinTech Forward Companies to Watch by American Banker and BAI, is a platform that allows users to choose a large-scale saving goal, whether it be a vacation, new car or your dream wedding. After specifying a goal, users are abled to share their goal with friends and family to receive opinions or thoughts regarding their decision, then allows the user to begin depositing money, with the option to have friends and family also invest, to help the user reach their goal even faster. The benefits of this platform reach far further than simply making large purchases seem more realistic and attainable by allowing saving in increments and potential financial help from friends. This platform may also prevent users from making impulse or unnecessary purchases due to friends and family being able to voice their own thoughts or concerns. In that aspect, the InSpirAve experience is more in tune with customer needs, wants and behaviors than the typical experience of managing a savings account.
As far as FinTech goes, a field which the Partnership Fund of New York City estimates makes up about 12% of all high-tech jobs, InSpirAve is definitely one to watch as it continues to develop.
Other FinTech entrepreneurs at the meetup included Arindam Nag and Doria Lavagnino, the co-founders, and chief executive and president respectively, of CentSai. CentSai is a platform that allows users to learn about financing through easy to understand storytelling. Arindam and Doria realized that while reading about finance may be less than enjoyable for certain people, combining finance lessons with personal stories and removing unnecessary verbiage, allows for financial learning in a much easier and relatable way.