GoalMine Takes Investing Mainstream, Launches First Simple, Social Way to Invest and Save

SAN FRANCISCO, Nov. 15, 2010 /PRNewswire/ -- Now $25 and a financial goal are all it takes to become an investor with today's launch of GoalMine, a revolutionary investing product from Gratio Capital. With accounts starting at $25, simple-to-understand investment plans, social sharing features and an innovative "gift card" model, GoalMine redefines investing and offers a simple and affordable way for everyone to advance and reach their financial goals, regardless of investing knowledge or income level. GoalMine is the first investing and savings product to make the experience simple, social and goal-based.

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"Until now, the choices available for growing your money have been too few, too limited or too exclusive," said GoalMine's co-creator Rimmy Malhotra, Chief Investment Officer of Gratio Capital. "Savings accounts offer little more than a place to store money at today's returns while retirement accounts don't provide for financial needs in the years or decades that come before. And without the few thousand dollars it typically takes to start investing and the knowledge or confidence to navigate investing choices that can be confusing or overwhelming, many consumers give up the returns available in the market. We created GoalMine for the millions of consumers who are doing the right things to reach their goals but haven't had the tools they needed to help them."

GoalMine is the simple, social way to invest and save for your goals

Consumers who choose to invest and save with GoalMine can get started with only $25. Designed to do away with financial jargon, GoalMine guides users to select a high-quality mutual fund or FDIC-insured savings account based on their savings goals such as buying a home, preparing for a new baby or saving for a rainy day. GoalMine helps savers create investing plans based on simple questions consumers know how to answer, such as what amounts they can regularly contribute or the dates by which they wish to reach their designated goals.

With GoalMine's social features, GoalMine users can publish a goal page, personalize it with photos, video and other details, and share it via Twitter, Facebook, email and other channels to solicit the support of friends and family. Friends and family who want to contribute financially can purchase GoalPacks – the first gift cards to make the gifting of mutual funds possible and practical – which GoalMine users can quickly and simply redeem and allocate to their goal accounts. GoalMine users can monitor their progress and manage their goals online with goal-tracking tools, calculators and automatic contributions.

Early users of GoalMine who have participated in private beta testing praise GoalMine for its flexibility and social features.

"I got started with GoalMine because I wanted the potential to get a higher return on the money I'm putting away, but I didn't have the minimum balance to qualify for the other options I found," said Katherine Lucas-Smith, a GoalMine private beta user. "I like that GoalMine is so customizable, that's key for me – I can afford to contribute a good amount each month, but if I had a big expense to cover, I could put away less and still contribute. And the goal-oriented savings makes it fun and exciting. I'm really happy with GoalMine and plan to stick with it."

Starting today, consumers nationwide can open a GoalMine account, set up a goal, choose a financial product and start sharing that goal with friends and family – all at no cost and with no obligation – by visiting www.goalmine.com. GoalMine users can begin contributing to their goals with $25 and pay no minimum account balance fees. To withdraw funds, all GoalMine users pay a $1 transaction fee. GoalMine users must be 18 years or older and have a valid social security number. Gratio also plans to make GoalMine GoalPacks available to consumers everywhere through partnerships with retailers and financial institutions.

GoalMine savings accounts are FDIC-insured. GoalMine mutual funds are managed by Gratio Capital, Inc., independently audited and custodied at the Bank of New York/Mellon. Details on GoalMine savings accounts, including the current annual percentage yield (APY), are available at www.goalmine.com/fdic-insured-savings-account. Details on fund fees and expenses are available in the fund prospectus online at www.goalminefunds.com.

To learn more about GoalMine, visit www.goalmine.com, stop by the GoalMine blog or follow GoalMine on Facebook and Twitter.

GoalMine leadership brings decades of experience, dedication to creating inclusive financial products

GoalMine was created by Gratio Capital, Inc., a San Francisco-based asset management firm managed by a team of executives and advisors with deep financial industry experience and a dedication to expanding access to financial services.

Prior to launching Gratio Capital, Chief Investment Officer Rimmy Malhotra worked as an investment analyst at a New York-based hedge fund. He also headed the North American Infrastructure Group at The Citigroup Private Bank covering operations across the Americas. A committed public servant, Mr. Malhotra served as a United States Peace Corps Volunteer in Central America.

Co-founder and COO Yaron Ben-Zvi has extensive experience helping build and grow early stage organizations. Most recently, he was Director of Client Services with marketing research and consulting firm Nielsen BuzzMetrics (now part of Nielsen Online).

Former SEC Commissioner Roel Campos joined the Gratio Capital Advisory Board in September 2010. Mr. Campos is a former member of President Obama's Transition Team Economic Advisory Board.

Gratio Capital is backed by MPOWER Ventures, a socially committed venture fund founded by prepaid debit industry pioneers Roy Sosa and Bertrand Sosa to invest in companies whose innovations benefit the underserved.

About Gratio Capital

Gratio Capital is a San Francisco-based asset manager spearheading a movement to provide all consumers, regardless of investing knowledge or income level, with access to simple and affordable tools that will help them build toward their financial goals. With its unique GoalMine product, Gratio Capital empowers all consumers to start investing and saving with social tools and a "gift card" model that allows them to share investing with their friends and family. Gratio Capital also acts as the investment advisor to the Gratio Values Fund. Like its fellow MPOWER Labs portfolio companies, Gratio Capital is committed to creating products and services that will foster empowerment and prosperity in underserved markets. For more information, visit www.gratiocapital.com.

SOURCE GoalMine