Sacred Heart University senior Wilder Rumpf received a $5,000 grant from the town of Fairfield for his ingenious fractional share brokerage and banking platform. The firm is pending registration but will offer fractional shares in over 675 securities, banking services and educational products.
“I always thought I would start a business—I just never knew what it was going to be. Sacred Heart helped me find my passion for finance and scholastics, which has driven my ambitions to accomplish what I have so far,” said Rumpf. With the help of SHU students, professors and advisers, Rumpf has launched an investment startup—FinTron Invest. FinTron’s mission is to accelerate the financial stability of young adults through education, transparent products and give-back programs.
FinTron employs six full-time staff members consisting of Jack Welch College of Business & Technology professors, graduate students and alumni. Additionally, FinTron currently employs more than 17 SHU interns and has collectively employed over 30 people. Together they’ve raised enough money to develop an iOS and android app, including a web interface and a gaming platform—the FinTron Challenge, that enables users to learn how to invest with simulated cash known as paper trading.
Rumpf is working on a dual major in finance and economics and has always been interested in creating his own business. “My father always worked in nonprofits, and I had the opportunity to watch him lead. I realized at a young age that I wanted to fund my own vision. The long-term goal is to generate enough revenue and pursue nonprofit ideals. Eventually, I want to start my own nonprofit,” said Rumpf.
FinTron Invest will donate 5 percent of its net profits to charity and 1 percent of the total revenue to a student loan forgiveness program. “We teach our users about finance and investing and then turn it around and allow them to invest on our super simplified interface with very small amounts of capital. We help forgive our users’ student debt, and we give back to charity. We aim to turn traditional finance on its head by leveraging technology and participating in philanthropy,” Rumpf said.
Rumpf credits much of his success to his experiences at Sacred Heart. “Coming here to Sacred Heart, there is a clear connection to my firm’s success and the educational and extra-curricular activities I have participated in. There is so much unknown potential at this school; SHU is a sleeping giant. The professors, students and industry professionals are all here to help you start your career and, if you are like me, your entrepreneurial journey.”