Company
Date Published
Author
Patrick Valoppi
Word count
825
Language
English
Hacker News points
None

Summary

Elphinstone is a Pakistani financial technology company that aims to simplify investing for its growing middle class population by offering a platform to invest in US stocks and ETFs with Shariah-compliant options. Founded in 2020, Elphinstone's CEO Farooq Tirmizi was inspired by the contrast between accessible investment products in the US and challenges faced by Pakistanis. The company has partnered with Alpaca, a developer-first API brokerage platform, to offer its services, providing advised portfolios, self-directed investing, and seamless funding and withdrawal options for users. Through this partnership, Elphinstone has achieved significant success, including executing 6-figure trades instantly and decreasing customer acquisition costs, while maintaining the reliability of the Broker API. The collaboration between Elphinstone and Alpaca exemplifies how innovative fintech solutions can bridge gaps in traditional financial systems, offering accessibility and long-term value to Pakistani investors.