The retail investor market is growing, thanks to investment apps like Robinhood and E*TRADE democratising access to the markets and empowering non-professionals to make their money work. It’s stimulated the fintech startup scene globally, too, and whilst many are chasing the hands-on retail investors, a niche has opened up for ‘small change’ investment apps for the hands-off customer. Peaks is one of these, allowing users to round up card payments and automatically invest it.
These apps are great for early-stage, short term investors, even though they will tend to work out more costly in the long run. As such, they tend to be directed at young Gen X and the emerging Gen Z markets - and here’s where Peaks has smartly distinguished itself from competitors like Stash and Acorn. Peaks is a values-driven app which only permits investments in sustainable ETFs. This is likely to play well with the younger generations, who expressly seek out brands and companies with the kind of eco-friendly ethos that aligns with their beliefs.
Steph
Company Specialist at Welcome to the Jungle