Your Money

We care deeply about how we manage your money. You’ve entrusted us to help you grow it so we go out of our way to ensure we look after it.

We partner with Precium and AOS, who you can read more about on our partners page, to handle your money and investments so that you can rest assured that your money is always in the best hands.

Money Management Principals

Our basic principals with regard to our user’s money are as follows:

• We never touch our user’s money directly, it is always held by licensed entities in a safe-guarded account at a bank.
• Every movement of money is recorded in an immutable double-entry accounting system.
• A journal entry is created for every request sent to a partner to move money, and a second journal entry is created to record when the request completes.
• Users are able to get full access to all journals relating to their money.
• We run regular reconciliations to ensure our accounts match the balances held by our partners on our user’s behalf, both on aggregate and per user.

Tigerbeetle

We have deployed our own Tigerbeetle database to use as a double-entry accounting system.

Tigerbeetle is a revolutionary new database that was designed specifically to store accounting data and sets a new standard for security, reliability, and robustness.

All proposed, completed, and failed transactions are recorded in Tigerbeetle allowing us to provide a complete forensic history of all money movements, real-time balance checks, and perform continuous reconciliation.

You can learn more about Tigerbeetle on their website.

Money In

When a user makes a contribution into their Fynbos portfolio the money is transferred from the user’s bank account to a bank account managed by our payment service provider Precium.

We get notified by Precium whenever money is deposited or a debit order is completed and we immediately verify who the money belongs to and initiate the process of investing that money through AOS.

If we receive money at Precium and are unable to identify which user it belongs to we immediately start a manual review process to establish the source of the money and either contact the user to find out where they want it invested or we refund the money back to them..

If we don’t already have an instruction from the user on how to invest the money we will contact the user to find out what they want us to do.

Once we have established the source of the money and where it must be invested we instruct Precium to transfer the money to AOS.

We instruct AOS how to invest the money for each user and they notify us when this is complete.

AOS will tell us how much was successfully invested, how much is still held in cash because it was too little to purchase a complete unit (if applicable), how many units were bought (if applicable) and a breakdown of any compulsory brokerage and settlement fees that were charged.

Each day we query AOS to get the current value of each investment. This is also recorded in Tigerbeetle to ensure we have a complete record of each user’s portfolio history.

Money Out

When a user wishes to withdraw from their portfolio we issue a sell instruction to AOS for the appropriate instrument.

AOS will sell the requested number of units and transfer the proceeds to Precium.

When Precium notifies us that the funds have arrived in their account, we send them an instruction to pay the funds out to the user’s account at their bank.