MBS alum Demi Xu is the Co-founder and COO of Tanggram, a startup that’s working to make financial services more accessible for everyone.
Demi Xu graduated from the Master of Management (Accounting) in 2016. Following her graduation, she went on to work as an Associate Financial Advisor with the Evertang Group, a role that would eventually lead to the launch of Tanggram.
‘Working in the Australian wealth management industry made me realise there are a lot of issues in that space. The investment bar is very high, as is the cost of professional services, so while lots of Australians would like to receive help with their finances, almost 80% have never engaged a financial advisor. Our team realised that there was a huge opportunity here, to create a FinTech platform that made these services accessible, at a reasonable cost. Then we started to build Tanggram.’
Tanggram is the first mobile investment platform that combines a rewards scheme with capital stable investments, which Demi and her colleagues have driven through the foundation process. Now that Tanggram is live, they’re entering the next stage of the project’s evolution.
‘It’s been quite the process, from creating our initial business plan to seeking out IT partners and AFSL to build the platform, apps, etc, to raising capital and building the marketplace. We launched the initial version of the app in 2018, on the Google Play and App stores. Since then, we’ve seen huge growth in the funds under our management, and a real uptick in the number of users who want to invest and accumulate their personal wealth.’
Now Tanggram has partnered with She Loves Tech to support the next generation of women in STEM by bringing the unique startup competition to Australia.
‘As a FinTech startup we’re a little rare, in that half of our team is female, and we’re really proud of that. We wanted to support more women getting into STEM and Finance, so we partnered with She Loves Tech to bring their global startup competition to Australia for the first time. We’re organising the information session, the panel discussions, and the Australian pitches, and then the top three teams will go on to the global competition,’ she says. ‘Programs like this give students an insight into what drives the evolution of the tech industry, how women impact it, and what it takes to launch your own startup. It’s also a chance for them to build connections with industry leaders and entrepreneurs.’
As we move forward and think about what the world of work is going to look like after COVID-19, it’s programs like this that will create opportunities for the next generation of business leaders.
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