The first AI-powered 360° financial platform is born, created by the founders of Rappi and Fintonic, together with former executives from BBVA, Fidelity, and the fintech TIFIN. The fintech is Multiplo Capital, backed by Antai Ventures, and is already making an impact, with year-to-date returns above 14% on more than €20 million in assets under advisory, compared with 3.65% for the S&P 500.
Following authorisation by the Spanish financial regulator CNMV as a Financial Advisory Firm (EAF), Multiplo Capital is now fully operational in the financial market, becoming the first AI-based platform offering a unique space where investors have full visibility over their financial flows, wealth, and its evolution, as well as technical and professional support to manage it in the most effective way. After just three months of operations, the firm already oversees more than €20 million in assets under advisory.
Behind this fintech, founded by Cristian Merino (CEO), there is a team of highly regarded entrepreneurial and financial profiles, including Sebastián Mejía (former President and co-founder of Rappi, one of Latin America’s most prominent tech platforms); Juan Pablo Jimeno (former Global Markets Director at BBVA and Senior Advisor at BME); Aitor Chinchetru (co-founder and former Co-CEO of Fintonic, Europe’s first financial aggregator); Antonio Salido (former Marketing Director at Fidelity); Nicholas Salguero (Managing Partner at TIFIN Europe and co-founder & CEO of Arbor Fintech); and Haresh Bajaj (former executive at Klarna and Pleo, as well as an angel investor in AI and fintech companies).
Multiplo Capital is conceived as a hybrid platform (digital plus advisors), whose value proposition lies in what is known as financial aggregation (allowing investors, directly from the platform, to log into their financial institutions and access all their finances in one place, updated in real time with multiple visualisation tools and intelligent insights) and personalised financial advisory.
As Cristian Merino explains: “Because we are a fully independent platform, unlike most banks and financial institutions, the first thing we do is understand the client both financially and personally. We then deliver a holistic financial plan (covering savings, liquidity, investments and tax), recommend the most suitable financial products across the market, support them in executing their decisions (subscriptions, purchases, sales, transfers, etc.), and above all provide 24/7 support with queries, communication, proactive recommendations and periodic reporting.”
Merino adds that the project was born as a response to a context he believes is unprecedented in Spain, as well as a personal motivation: “I have long been fascinated by how the same person, working the same number of hours in the same profession, can achieve such different financial outcomes depending on whether or not they apply a set of basic principles in managing their finances.”
In this context, Juan Pablo Jimeno — who, in addition to being an investor in the project, serves as Chief Investment Officer — explains that several structural factors have made a project like Multiplo Capital possible. He notes that “what has historically been the main savings and investment product in Spain, real estate, is becoming increasingly inaccessible and less profitable, making it necessary to seek alternatives, mainly in financial assets. In addition, while there are more and more providers (including digital ones) of financial products, there are very few figures capable of understanding each client’s circumstances and guiding them through the vast universe of products and often contradictory information. At the same time, the retreat of bank branch networks, combined with the digitalisation of financial services and very low personalisation of advice, has led banks — historically seen as the main financial advisors — to lose public trust.”
Finally, the emergence of generative artificial intelligence is enabling, for the first time, the scalability of financial advisory services. However, the team stresses that “we do not believe in AI as a substitute for human interaction and proximity, and we keep AI away from our investment policy decisions, which remain exclusively within our Investment Committee.” Instead, AI is used to increase advisor productivity, enabling highly competitive pricing for clients.
What truly differentiates Multiplo Capital from its competitors (including direct competitors, private banking, universal banking and financial products) is that none of them, individually, are able to combine all the features that Multiplo Capital offers: full visibility over cash flows and wealth, financial planning beyond product advice, personalised journeys, no exclusion of lower wealth segments (most players do not serve clients below €150k–€300k), and an independent advisory model that enables the recommendation of the most suitable financial alternatives for each profile.
As a result, clients of Multiplo Capital have achieved significantly superior returns compared to other institutions. For example, last year its standard 100% equity portfolio generated a return of 24.4%, compared with 16.35% for the S&P 500. In the case of its 100% fixed income portfolio, returns reached 8.60%.
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