Launched in 2021, the French fintech Finary has developed an all-in-one tool to track all of your investments. By connecting your different portfolios, Finary centralizes the monitoring of your cryptocurrency performance in one place, while offering many interesting options.
Finary, an investment account aggregator
If you’re familiar with investing in the cryptocurrency industry, then you’ve probably come across the problem of tracking your wealth .
As long as you use several trading platforms, a digital wallet such as MetaMask and a physical wallet like Ledger, monitoring all of its performance becomes a real ordeal . And that’s not counting all the other financial investments made outside the world of cryptocurrencies.
Faced with this observation, Mounir Laggoune and Julien Blancher, two French entrepreneurs, decided to launch Finary . Founded in March 2021, this startup aims to offer an all-in-one tool bringing together all of your savings, investment (stock market or crypto) and real estate accounts. The ideal platform for any investor who is diversifying.
Less than a year after its creation, the startup has just raised 8 million euros to accelerate its development. Led by its historical investors Y Combinator and Speedinvest, this financing round also saw the participation of Steve Anavi and Alexandre Prot (co-founders of the neo-bank Qonto) as well as Eric Demuth (CEO and co-founder of the Bitpanda platform).
In addition, Finary will open its capital to its users up to €500,000 in order to allow them to invest alongside internationally renowned investors.
“Both coming from Tech, we decided to design a simple, yet comprehensive product. Thus, Finary makes it possible to connect more than 10,000 banks & investment platforms around the world,” explains Mounir Laggoune.
The two co-founders indicate that they invest enormously and in very diversified asset classes. However, this diversification creates a real concern in terms of monitoring investments and performance , which is essential for the success of its strategy. Above all, Finary is therefore a response to a personal problem.
In January 2022, the French startup had 30,000 customers and more than 10 billion euros under surveillance. Available in Web , iOS and Android versions , Finary intends to multiply its number of users by 10 and increase to 350,000 users by the end of 2022 .
Finary Platform Overview
Finary therefore allows you to track and analyze your assets in real time : cryptocurrencies, real estate, PEA-type investment accounts or securities accounts, passbooks, banks, etc. The platform is accessible from your computer or smartphone and is available in English or French, depending on your preference.
An ideal tool for your investor strategy
Finary’s platform is separated into 4 distinct tools. The home page, dashboard , is a real dashboard for monitoring your investments. As presented in the context of this demo account, it is possible to consult its gross wealth, but also its net wealth (i.e. without bank loans), as well as a curve of their evolution:
Finary app home page
You can of course view your daily capital gains or losses using the dedicated box. Finally, you can display the breakdown of your asset allocation , between cryptocurrencies, real estate, investment accounts or even metals.
In the rest of this article, we will detail the method for accessing all of these features , in particular the synchronization of Finary with your bank accounts or cryptocurrency exchanges.
Note that Finary can only view the contents of your portfolio, and cannot interact with . In addition, the platform never has access to your bank details, which guarantees the security of its tools.
More details on the crypto feature
Once your free account is created on Finary, you can track your cryptocurrency investments. To do this, the platform offers you two possibilities .
First, you can manually select the different cryptocurrencies that make up your wallet. Simply choose an asset from the drop-down list, fill in the amount of tokens you hold and the initial purchase price to track your progress.
Secondly, you can also synchronize Finary with your accounts on different trading platforms . The application is compatible with all the big names; Coinbase, Binance, FTX and other Bitstamp. To do this, you just need to generate an API key directly on your exchange, add it to the Finary application, and you’re done.
Then, in the Wallet tab, then Cryptos , you can view all of your cryptocurrency wallets , provided they have been connected. These are displayed as a list on the right of your screen, which you can scroll down and observe in more detail .
Track your crypto wallet with the Finary app
As part of our demo account, the app displays the cryptocurrency allocation in the Ledger wallet, ordered by asset value. It is also possible to sort according to the capital gain or loss , the quantity held or even the price of the cryptocurrency.
More visually, you can view the breakdown of your total cryptocurrency wealth , as shown in the screenshot above. It is even possible to sort according to the volumes held on your different media.
Finary’s other options
Until then, the features presented are free. In parallel, Finary offers a premium version called Finary Plus. This provides access to more integrations and an option called Insight.
Against a subscription of 15 euros per month, or 120 euros per year, this option gives access to exclusive analyzes on his portfolio (weekly performance, investment costs, etc.) or his investor profile. In addition, it allows you to project yourself on your assets, thanks to the Monte-Carlo algorithmic method, a simulation usually reserved for private banking clients.
Overview of Finary Plus functionality and Monte-Carlo algorithms
Finally, the last tab is the one dedicated to the community. It is not a tool strictly speaking, but it is an important option in your investor strategy.
Accessible without an account, the Finary community brings together thousands of investors . They exchange daily on the allocation of their portfolios, share resources to improve their investment or on the use of platform tools and can also vote for the next integrations and functionalities to be developed . It is one of the largest places of exchange between passionate investors.
