Launched in 2021, French fintech Finary has developed an all-in-one tool to track all your investments. By connecting your various wallets to it, Finary centralises the tracking 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 sector, then you’ve probably already faced the problem of tracking your wealth.
If you use multiple trading platforms, a digital wallet such as MetaMask and a physical wallet such as Ledger, keeping track of all your performance becomes a real pain. And that’s without counting all the other financial investments made outside the world of crypto-currencies.
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 that brings together all 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 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 to enable them to invest alongside internationally renowned investors.
“Coming from a tech background, we decided to design a product that is both simple and comprehensive. Finary connects more than 10,000 banks and investment platforms around the world,” explains Mounir Laggoune.
The two co-founders say they invest heavily and in a wide range of 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 a response to a personal problem.
In January 2022, the French startup had 30,000 clients 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 reach 350,000 users by the end of 2022.
Overview of the Finary platform
Finary therefore allows you to track and analyse your assets in real time: cryptocurrencies, real estate, investment accounts such as PEA 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 investment strategy
Finary’s platform is separated into 4 distinct tools. The homepage, dashboard, is a true dashboard for tracking your investments. As presented in this demo account, it is possible to consult your gross assets, but also your net assets (i.e. without bank loans), as well as a curve of their evolution:
Finary application homepage
You can of course view your daily gains and losses in the dedicated box. Finally, you can view the breakdown of your asset allocation, between cryptocurrencies, real estate, investment accounts or even metals.
In the rest of this article, we will detail how to access all of these features, including synchronizing Finary with your bank accounts or cryptocurrency exchanges.
Note that Finary can only view the contents of your wallet, and cannot interact with it in any way. Moreover, the platform never has access to your bank credentials, 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 so, the platform offers you two options.
First, you can manually select the different cryptocurrencies that make up your portfolio. 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.
In a second step, you can also synchronise Finary with your accounts on different trading platforms. The application is compatible with all the big names; Coinbase, Binance, FTX and Bitstamp. To do this, you simply generate an API key directly on your exchange, add it to the Finary app, and you’re done.
Then, in the Wallet tab, then Cryptos, you can view all your cryptocurrency wallets, provided they have been connected. These are displayed as a list on the right hand side of your screen, which you can scroll down and look at in more detail.
Track your crypto wallet with the Finary app
In our demo account, the app displays the cryptocurrency breakdown in the Ledger portfolio, ordered by asset value. It is also possible to sort by capital gain or loss, quantity held or even the price of the cryptocurrency.
More visually, you can view the breakdown of your total cryptocurrency holdings, as shown in the screenshot above. It’s even possible to sort according to the volumes held on your different media.
Finary’s other options
So far, the features presented are free. In parallel, Finary offers a premium version called Finary Plus. It gives access to more integrations and an option called Insight.
For a subscription fee of 15 euros per month, or 120 euros per year, this option provides access to exclusive analyses of one’s portfolio (weekly performance, investment fees, etc.) or one’s investor profile. In addition, it allows you to project your wealth, thanks to the Monte Carlo algorithmic method, a simulation usually reserved for private banking clients.
Overview of the Finary Plus functionality and the Monte Carlo algorithm
Finally, the last tab is the community tab. This is not a tool per se, but it is an important option in your investment 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 the platform’s tools and can also vote for the next integrations and features to be developed. It is one of the largest exchange places for passionate investors.
