This post is also available in: Português (Portuguese (Portugal))
The first Portuguese platform NewCapital has arrived, which promises to combat financial misinformation and online scams, created by José Costa Rodrigues
Portugal was the European country where private investment grew the most in 2020. However, one in three Portuguese investors believes they know more about finance than they really do. With regard to financial literacy, Portugal is at the level of countries such as Romania, Bulgaria, or Macedonia.
In order to combat the lack of technical knowledge of those who are making their debut in the world of investments or of those looking for specialized information about the sector, the online platform NewCapital was created. Launched in January by the young entrepreneur José Costa Rodrigues, this is one of the first financial literacy platforms of Portuguese origin to operate in the market.
NewCapital, which already has more than 10,000 subscribers, specializes in the areas of financial markets, real estate and banking and is based on three aspects: saving, undertaking and investing. From stock investments and property purchases, to day-to-day savings tips, the educational platform guarantees free access to professional informational content, such as macroeconomic analysis, market trends and developments, opportunities, investment tips and news from the market. updated in real time.
José Costa Rodrigues‘ idea came from the need to increase the levels of financial literacy in Portugal, at a time when the image of foreign exchange markets was largely tarnished by the appearance of pyramid schemes and online scams. “There are more and more young people wanting to be entrepreneurs, looking for a luxury and ostentatious lifestyle and living like a “Youtuber”. With social networks and some movements of supposed “financial freedom”, it was believed that it was possible to get rich quickly through online investments, but it is necessary to understand that in success, there are no shortcuts and nothing happens overnight”, begins by explaining José Costa Rodrigues.
The founder of the technology company Forall Phones and of the virtual real estate company Relive, believes that the pandemic has created a good opportunity to invest, but reinforces the idea that “without knowledge, there is no good investment.”
“At NewCapital, the entire platform is based on educational content: we rely on the know-how of experts from various areas: from personal credit, car, housing, to proven entrepreneurs, to investors and professionals in the financial and real estate markets”, adds the young businessman. “Our mission is to deconstruct the myths surrounding the investment market and to be an ally in combating financial misinformation. In the coming months we will be focused on launching new services that can be useful for people with different degrees of experience in this world”.
“When we created NewCapital we knew that there was a lot of demand for reliable information regarding financial markets. Still, we did not imagine that, in just 1 month, more than 10,000 people would follow us. The responsibility is enormous, but we are working hard to meet what is expected of us”, concludes the founder of NewCapital.