In a virtual launch greeted with pomp and pageantry, Trove finance unveiled its new app Trove 2.0 and its new website here. As the pioneer micro-investing platform in Sub-Saharan Africa (SSA), the startup is showing no signs of easing off as it rolled out an innovative suite of new products.
The micro-investing platform launched Trading-as-a-Service (TaaS) to allow banks, asset managers, and fintechs to seamlessly integrate the trading of American, Chinese, and Nigerian stocks and ETFs through a proprietary easy-to-use API. Trove’s TaaS hosts the full capabilities of a fully functioning trading app from onboarding, compliance, original research, education, to other wealth management tools. This means anyone can launch a trading app with very few lines of code, courtesy of Trove.
Peer-to-Peer Funds Transfer & Stocks Gifting
Users can now send up to $5,000 to other Trove users at zero cost. Even more, users can gift stocks with a maximum value of $5,000 to users and non-users of Trove.
The New Wallet System & Debit Cards
Trove has reimagined its wallet system to become “The Vault” to power more money operations for its users. While funds in users’ wallets could be used for trading, users also get access to a debit card – virtual or physical – powered by MasterCard, to utilize funds in their wallets to make purchases and withdrawals anywhere in the world. Additionally, users can initiate bills payments for their daily needs like Netflix, Apple Music, Amazon purchases, and social media ads payments (for our small business owners).
Trove for Business
Trove for Business ensures your business can now own other businesses. This B2B facing product is targeted to enable corporates, small businesses, cooperatives, and Trusts trade & own stocks and ETFs without any personal liabilities involved.
Trove University is the education arm of Trove Finance with a goal to dispense financial education to a million Africans in the form of classes, cohort programmes, bite-sized explainers, and talk shows. This on-demand product comes at zero cost and is available to all Trove users across the continent.
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Real-Time Pricing and Proprietary Price Alerts
The startup also unveiled a proprietary price movement alerts system that tips off the user of any major real-time change in the prices of stocks in the user’s portfolio and watchlist. This is relevant as the startup doubled the number of stocks available to users in the new release.
“Actualizing Trove 2.0 required us to stretch as a team. We set out with the guiding principle to bring more possibilities to our users and break new grounds. Underserved customer segments, traditional financial institutions, and fintechs can now expand their service offerings with our Trading-as-a-Service APIs. Corporate entities can also now have access to intelligent trading offerings.
We believe every entity – personal or corporate, regardless of size – deserves to be a part of Trove’s world of possibilities. And we are glad to have achieved exactly that” Desayo Ajisegiri, the Co-founder & Chief Operating Officer (COO), beamed.
“Trove finance is the answer to Africa’s access to global investment opportunities“
While revelling in the moment stating that “Trove finance is the answer to Africa’s access to global investment opportunities”, Oluwatomi Solanke, CEO, hints that this upgrade is only a step in the long evolutionary process for Trove. Between this launch and its next announcement, the ambitious CEO stated that his team’s focus is “proliferating access to global investment opportunities to all of Africa, one country at a time”.