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New Fintech Company Wants to Automate Angel Investing

A South Florida company is taking sign-ups from investors interested in automated special-purpose vehicles (SPVs).

Advisors looking for ways to connect their investor clients with startup funding, including angel investing, have a new option. Investors and advisors interested in creating a special-purpose vehicle now have an automated SPV formation and management product available to them, according to the Miami Herald. Founded by Herwig Konings and Mario Pazos, Digital SPV won a South Florida fintech competition and has received $1 million in commitments, with plans to add more than 500 users by the end of the year.

Digital SPV won the competition, in part, because of its ability to eliminate manual processes. “The company is solving a pain point for many people,” said Marcelo Claure, SoftBank COO and one of the judges at the competition, in the Herald story.

The tool uses automation to make investor-company communication easier, along with simplifying fee tabulation, performance reports, tax documentation and any other filings. The company's founders "imagine the technology working hand in hand with attorneys, CPAs and financial advisors," according to the report.

The company is currently taking sign-ups and was originally self-funded. “Our technology will be disruptive—but we don’t want it to be destructive,” Konings told the Miami Herald. "As long as we’re able to crack that code that lets us work with providers, we will be able to scale faster."

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