Vancouver-based Voleo, a mobile FinTech company, has gotten a few steps closer to fulfilling its mission of creating a transparent investor social network. The startup announced a collaboration with the Toronto Stock Exchange (TSX) and the TSX Venture Exchange (TSXV) to launch the Voleo TSX Equity Trading Competition, a simulated public markets investment competition for postsecondary students across Canada.
The competition targets millennials, which Voleo says is largely unengaged from public equities market investment.
“This application is breaking down the barriers, like fear or lack of knowledge, that hinder new investors from entering into the financial markets,” said Thomas Beattie, CEO of Voleo. “The platform offers the information and tools necessary for new participants to better understand investment strategy, while allowing experienced investors to develop and hone their skills, creating a new generation of connected, informed, and empowered investors.”
During the competition, participants will create investment teams through the Voleo mobile app, which allows each group to tap into research and resources necessary to make informed investment decisions. Teams enrolled in the program will be given $1 million worth of simulated virtual currency to compete for $25,000 in prizes by creating, strategizing, and managing a simulated equity portfolio.
“We are delighted to collaborate with Voleo to help increase financial literacy in Canada,” says John McCoach, President, TSX Venture Exchange. “The Voleo TSX Equity Trading Competition will help Canada’s millennial generation in particular by engaging and educating them about the breadth of investment opportunities that can be found on TSX and TSXV, our country’s leading public equities markets.”
The Voleo TSX Equity Trading Competition is running until April of 2016, with the final results announced on April 11th, 2016.