According to Clason, the road to personal financial success starts by taking one simple but very important step — setting aside and investing a portion of your income. It is what modern proponents personal financial freedom promote as paying yourself first. And as US billionaire Warren Buffet says “Don’t save what is left after spending, spend what is left after saving”.
Finance-savvy Singaporeans are increasingly using digital means to enhance their understanding of and buy financial products, according to Google’s first Asia-Pacific report on financial services.
The report was launched together with Google’s APAC financial dashboard, which shares insights on how consumers from 10 countries in the region are searching for financial products.
Search demand for financial products grew 11 percent year-on-year in Singapore, Google said, with a massive 28 percent increase in mobile search. At 91 percent, mobile penetration in Singapore is the joint-highest in Asia.
Softline Seed Fund – a joint venture between Softline Group and Russian Venture Company’s seed fund – led the investment round, purchasing a minority stake for RUB 15 million. Da Vinci Capital, a leading emerging markets private equity fund manager, also co-invested in the deal from its co-investment fund.
Launched in 2016, Finvale develops innovative fintech marketplace for trading financial products as well as risk management and other solutions for traders. The Finvale platform facilitates the distribution of financial products by leading brokerages and commercial banks throughout Russia. Finvale also envisions opening its platform to non-financial products and expanding it to international markets.
Elena Volontovskaya, head of the Softline Seed Fund, said, “Our strategy is to finance breakthrough information technologies. Finvale will provide unique opportunities for professional investors throughout Russia to get fast, simple and efficient access to financial products.”
Da Vinci Capital managing partner Oleg Jelezko added, “online trading platforms are becoming increasingly popular with financial sector clients. In the future, the purchase of financial products will not differ significantly from the purchase of other goods and services on the internet.”