Finax Journey: From a garage startup to a market leader

A Daring Journey Full of Ambition 

Finax started with a simple vision – to make efficient investing more accessible to the ordinary public and break traditional barriers associated with the financial markets. Its two founders, Juraj Hrbatý and Rado Kasík, decided it was time to bring a solution that would make investing easier and accessible to everyone. From a small office under a highway overpass in Vrakuňa, a company that has earned trust of thousands of clients was born.  

From the very beginning, we worked tirelessly, constantly investing time and money, innovating, broadening our service palette and adapting to our clients’ needs. All the steps we’ve taken so far have brought us closer to our vision – making investing as simple, cheap, and available as possible.  

What Have We Achieved So Far? 

April 2017

Juraj Hrbatý meets with Rado Kasík, and the vision is born. They begin working on obtaining an investment broker’s license. The first office is opened in a building under a highway bridge in Vrakuňa-Bratislava.

October 2017

Finax moves from under the bridge to an office in Rosum Business Center in Bratislava where it’s headquartered to this day.

December 2017

Finax obtains an investment broker’s license from the National Bank of Slovakia, which supervises its activity.

January 2018

Finax, o.c.p., a.s. is officially registered in the Commercial Register on Jan. 10^th. 

April 2018

Finax launched its online investing. It became the first robo-advisor in Slovakia, allowing even absolute beginners to start with passive investing.  

March 2019

Finax receives the largest investment into a fintech startup in Slovakia at the time. Ivan Chrenko joined as a shareholder with a capital of 1.5 million euros, gaining 50% equity. Finax thus became more stable, able to develop itself technologically and expand abroad.  

September 2019

We launched biometric verification as the first investment broker in Europe. Setting up an account thus became even more secure and convenient.

Finax furthermore receives the Fintech Startup of the year award in CESAwards Slovakia competition.

October 2019

Finax expands abroad. It enters the Polish, Czech, and Hungarian markets. Finax becomes the first robo-advisor in Poland and Hungary.

November 2019

Ivan Chrenko made his investment account at Finax public. 

August 2020

Finax is the first to launch a localized robo-advisor investment service in Croatia. 

October 2020

Launch of the first version of the Finax mobile app.

We’ve furthermore launched the Finax Elite service for private clients offering individual care, a personal wealth manager, reduced portfolio management fee, and a broader service scale.

February 2021

The volume of managed assets surpassed the 100 million euros milestone. These were managed for 16 thousand clients.  

June 2021

Finax gets into a second financing round and receives another 1.5-million-euro investment from Ivan Chrenko. He is thus becoming the majority owner.

We’ve furthermore added life insurance into our stock. It is available with a very simple and quick online medical verification for a good price.

July 2021

We’ve launched the Intelligent Wallet as a product for short-term savings. We’ve managed to improve its portfolio over time, making it a great investment product for 1–3-year horizons.

October 2021

Finax launches Finbot, a personal finance management mobile app allowing you to link your bank accounts and track spending. It would be later incorporated into the Finax mobile app.   

April 2022

We opened an office in Warsaw, Poland. Our goal is to understand the customs and issues of countries where we operate, so we try to localize our services.  

July 2022

We raised the share capital of the company to 750 thousand euros. Increasing client assets' security and business stability is always a priority.

September 2022

Finax, as the first company in the European Union, obtained the provision license for a pan-European Personal Pension Product (PEPP) – an alternative to traditional European 3^rd pillars. Slovaks thus became the first European citizens who were able to grab hold of this unique pension savings program.   

April 2023

We were awarded the Investment product of the year title at the Invest Cuffs conference in Poland.

June 2023

We launched the Smart Deposit, our most conservative investment product yet. This product is ideal for investing money you’ll need within a year.

We furthermore organized the first Finax Moneyfest – a live meeting with our clients and fans.

July 2023

We have permanently removed the deposit fee. 

October 2023

We organized the second Finax Moneyfest in Bratislava. It’s an amazing opportunity for us as an investment platform to meet with our clients personally and energize each other.

Finax was furthermore awarded as the best robo-advisor and the most innovative investment company in Slovakia at a local conference called “Zlatá minca” (Golden Coin in English). 

November 2023

Finax manages half a billion euros worth of assets for 53 thousand clients. 

Finax became the fastest-growing Slovak enterprise in the Deloitte Technology Fast 50 CE competition. It got 12^th place out of 14 in the overall ranking.

December 2023

KBC Securities becomes the new Finax custodian. Security of clients’ assets will always be our top priority.

January 2024

Finax takes over the investment activities of Aion Bank. Apart from the client base, it obtains new asset management software and enters a new market: Investment-as-a-Service. We have obtained our first B2B client in Germany, UnitPlus.  

We’ve furthermore launched a textbook for middle schools in Slovak language.

March 2024

Finax introduces Financial Wellness – a financial education employee benefit. Happy employees are more loyal and productive.

April 2024

We were awarded the title Alternative investment firm of the year at a prestigious Invest Cuffs conference in Poland.

Furthermore, Germany becomes our second largest market, both according to the no. of clients and assets under management. Up until this point, the second place was occupied by Poland.

May 2024

We’ve launched Finax Women – an investment community of women with the aim to financially educate, motivate and support women through #SlovenkyInvestuju channels.

July 2024

We placed 85^th in Deloitte EMEA Technology Fast 500 rating. The program identifies and rates the fastest growing tech companies in Europe, Middle East, and Africa.  

August 2024

We’re merging Finax and Finbot. Financial Coach, a free personal finance management service, is added to the Finax app, allowing its users to connect bank accounts, track spending, and create budgets.

October 2024 

Finax launches its first local ETF product. We have created Zloty Portfel portfolios for the Polish market. They are denominated in the Polish zloty and invest primarily into the local economy. It’s the first ever managed portfolio composed of local ETFs in Poland.  

Finax is furthermore awarded the Golden Coin award for the third time, as the best robo-advisor in Slovakia and becomes the most innovative investment company for the second time.

November 2024

The volume of managed assets surpassed the magic 1-billion-euro milestone. We’re currently managing assets for 83 thousand clients.

We’re furthermore opening an office in Germany in Frankfurt am Main.

December 2024

Our YouTube channel has reached 3 million views and over 10 thousand subscribers. 

The seven years have passed so fast, and what a journey it was – from a small startup to a company that shapes the way people invest. Our journey wouldn’t have been possible without our clients and their trust. Thank you for your support and we’re looking forward to growing together in the upcoming years! 

This article provides marketing information about the products of Finax, o.c.p., a.s.