Hi @SilvereX, sorry for the late reply.
Completely agree with your concerns re becoming hostage to changes in platform pricing. It’s one thing I personally dislike when using Fintech products - they start out with competitive pricing and slowly increase as they gain traction. Aside from disliking the user experience of companies that do this, I also disagree with it from a business perspective.
Particularly in our space, there is increased competition in the market and the first differentiator between new and existing companies is usually price. If we’re slowing increasing our fees, it puts us at risk of losing the very clients that supported us to grow in the early stage, to our competitors that undercut us on price. To me, user retention is equally important as growth, and equally important to our long term success as a company.
My objective is to keep our fees low, and reduce our costs with our partners when we have scale with the aim to increase our margins this way. Of course, this is subject to the fees of our partners and the increasing costs they may have, but where possible, we will also make sure our revenue streams are cost effective for our users. And when adding new revenue streams for new features, our objective is to make sure they’re providing more value than cost to our users. It’s also important to me that we continue to align our product and pricing with our mission, to remove barriers to entry, not increase them.
Coming back to the EUR 75 fee to transfer out, agreed, if your portfolio is larger the EUR 75 would be nominal. That’s a good point re a once off charge to avoid people abusing the platform. We still need to work through the manual paperwork side of the transfer to make it more seamless - definitely something for us to explore further. It’s on our future features list for further assessment
Thanks again for backing our round, and please keep your feedback coming! It’s really helpful to us to hear your ideas / thoughts and to challenge these new ideas together