From Near ‌Failure to Fintech Success: The Hapi Story

A new financial technology platform, Hapi, is rapidly expanding access to U.S. stock market⁣ investments for Latino communities across 17 countries. Founded by Dusko Kelez and his partners,‍ the app‌ has surpassed 800,000 users‍ and is on track to exceed $2 billion in processed transactions. Kelez’s ​journey to success was​ not without its⁤ challenges, marked by early⁤ entrepreneurial setbacks⁤ and a pivotal shift in focus.

Early Ventures and lessons Learned

After graduating from the University of the Pacific (Lima) with a degree in Economics, kelez initially pursued entrepreneurship with a marketplace called Plaza 21 in 2011. ⁤He​ transitioned from a junior role‌ to ⁤directly advising management,⁢ a formative experience. “I went from a place where my opinions on finance‌ were the last wheel of‍ the car to‌ being⁢ next to the manager giving my⁢ suggestions,” Kelez recalls. This early⁣ venture ⁣was⁤ followed by ‌a retail⁢ clothing store, Ropa Duke,‌ wich nearly depleted his savings.

This financial hardship prompted a return to the corporate⁣ world, where he began exploring the complexities of stock market investments. He later joined Taximo, a Colombian startup, and subsequently ⁤became COO of Grin Scooters, overseeing a team of 2,100 people across seven countries. The⁤ pandemic significantly‌ impacted Grin, reducing daily scooter operations from 50,000⁤ to⁣ under 200. This disruption allowed⁣ Kelez to dedicate his focus to a ⁢project he ⁤had been developing⁤ with two partners: Hapi.

Did You Know? The number of retail investors has surged in recent years, particularly among younger demographics, driven ​by commission-free trading apps ‍and increased financial literacy initiatives. Investopedia provides a ‍comprehensive overview of ⁣retail investing trends.

Hapi: Bridging the Gap to Wall Street

Hapi aims⁣ to simplify access to the U.S. stock market for Latino investors.​ Kelez explains that previously, investing⁤ in U.S. stocks was a complex ‍process.”Before, entering to invest in the U.S.bag was a complex issue. I had ‍to live⁢ it when I wanted to ⁤buy Tesla shares in 2011, but with Hapi we did the job so that all ⁢that complexity would be ‍left behind.” The app ‍currently offers access to over 12,000 investment assets, including established companies like Apple and Amazon, ‌and also newer⁤ firms and 40 cryptocurrencies.

The company was founded‍ in 2020 and⁢ secured a broker license in the United States in 2022. Hapi’s‌ growth has been ‍fueled by ⁣$7 million in⁤ funding, with initial investment from ‌Y Combinator ($125,000) and a subsequent $2.5 million round. Andreessen ⁣Horowitz ‍is⁢ also a key investor.

Growth and future Plans

Hapi currently processes ⁢between 15,000 and 20,000 transactions daily, with an average ‌investment ticket of $250. over 70%‍ of its users are from Chile, Argentina, Colombia, Mexico, ⁣Ecuador, Venezuela, ⁣and Peru. The company plans to launch ⁤two new ‍products in the coming months: a portfolio mirroring investment strategies of successful investors ​like Bill Gates and Warren Buffett, and a credit line backed by‌ assets held⁤ within the Hapi app.

Pro Tip: ‍Diversification is a key principle of sound investing. Consider spreading your investments across different asset classes and sectors to mitigate risk.The SEC offers resources on diversification strategies.

Kelez emphasizes organic growth, with a planned investment of around $3 ⁢million​ over the next 12 months. While acquisition offers⁢ have been received, he remains ⁤committed‌ to Hapi’s ⁣long-term‍ vision. “I am in love with hapi. There are more than 50 things that I would like to do before thinking about ‌selling or leaving.”

Dusko Kelez’s ‌Investment Philosophy

Kelez’s personal investment journey began with Tesla in 2011, recognizing Elon Musk’s vision and track record. He currently invests in Tesla ‍for the ⁣long term, believing in the ‍potential of autonomous vehicles. He stresses the importance of thorough research​ before investing.”Every day the first thing I do⁢ is review my investments. When ‍the day closes, I review them again.”

He advocates for identifying emerging trends, citing the example⁢ of Apple’s rise during the shift from Blackberry. What emerging technologies or industries ⁣do you believe hold ‍the greatest investment‌ potential?

Hapi: Key Data

• Current Users: 800,000+
• Countries Served: 17
• Average Daily Transactions: 15,000 – 20,000
• Total Funding: $7 million+
• Key​ investors: Y Combinator, Andreessen Horowitz

We hope this article has provided valuable insights into Hapi’s journey ​and the ‍evolving landscape of fintech. We’d love to hear your thoughts! Please share this article with your network, leave a comment below, or subscribe to ⁢our newsletter for more ⁤breaking‍ news and⁤ in-depth analysis.