Obsiido wants to usher in a new era of alternative investment opportunities for Canadians.
The financial technology startup, which emerged from stealth earlier this year to the tune of an $800,000 seed round, currently has a waitlist for access to its platform, which is expected to launch this year.
“Created out of a realization that alternative investment opportunities are hard for retail investors to participate in, Obsiido is unlocking access to alts like never before,” the company states online, promising access to private markets as well as real assets such as infrastructure and agriculture.
Obsiido’s seed capital, which hailed from a range of angel investors, takes the Toronto startup one step closer to launching its direct investing platform focused on alternative investments.
Bangash informed BetaKit in February that, while “other firms have started to look at this space,” such as Wealthsimple’s Venture Capital offering, Obsiido is unique because it will offer a more diverse array of alternative investments combined “with our expertise on the tech side.”
In partnership with Washington, D.C.-based alternative asset firm Accolade Partners, Wealthsimple Venture Fund I is what’s called a “fund of funds”—Accolade chooses funds managed by VC and private equity firms and those funds are invested in different companies.
Obsiido suggested to BK that this is all good and fine, but their approach will be more practical and novel.
In addition to offering investing opportunities, the platform intends to provide education around complex investments, so that less financially experienced investors can still understand what they’re buying into. Since last year, a blog on Obsiido’s website has provided occasional in-depth analysis of financial topics from the founders.
Once the Ontario Securities Commission approves its regulation, the company intends to launch, according to Bangash.