June 5, 2009
Kublax To Manage All Your Accounts, Will Not Allow People To Sign In if They Do Not Have a UK Postal Code
Kublax is a new company that is to manage your accounts, but it is still in beta testing. Furthermore, Kublax is not open to the public worldwide, only to the United Kingdom and if an individual does not have a valid British postal code, it will not allow that individual register on the website. When you come to Kublax’s homepage, you will see a series of options marked with colorful cartoon-like images giving you a choice to either manage your accounts, compare your spending, create budgets, set up alerts, and save money. The manage your accounts option allows you to manage all your accounts without the need to sign into multiple accounts in order to do it with Kublax. The currency used in Kublax is the British Pound Sterling. With the compare your spending option, Kublax actually does all the work for you and even categorizes all your spending, allowing you to understand your spending and allows you to identify areas where your spending can be controlled or where you could save for the same item. You can also track your spending by day, week, or month with this option. The next option is designed to help you create budgets. With this feature, you can effectively plan ahead by setting your budgets with this feature, which actually allows you to track both your spending and income. This feature also allows you to move surpluses where they can gain interest or be used for emergencies or other urgent situations. Perhaps you are one of those people who forgets things. Well this next option on Kublax is for you. Kublax has a special feature that allows you to create alerts and reminders to remind you to do certain things. These alerts can help you overt late fees if you have fees to pay per month, such as fees for electric, gas, water, credit payments, etc. This option allows you to have an online calendar where you can schedule your payments up to two months ahead of time and you will constantly get alerts telling you how much time you have before you have to make that payment. This is a great way to avoid late fees and penalties. The last option on Kublax is the save money feature, which allows you to manage your budget and keep track of what things in your life cost and can recommend you not to spend money on nonessential items. Furthermore, Kublax is a company that believes in security. Kublax has several layers of security that would make you feel comfortable to use its service to manage your financial matters. The first thing that makes Kublax attractive is that it does not require any major information from you when you register. The unique thing about Kublax is that it does not require you to type in your name when you register, nor any other personal information that other services require you to do. All you need is to type in your valid email address, your British postcode, and a password to log into the site, once registered. That’s it. You do have the option to declare your gender, age, and marital status; however you do not need to declare this information if you do not wish to do so.
Kublax is a corporation that is owned by Kublax Financial Technologies, Ltd. and is based in London, England. The name, Kublax, is actually a combination of the two names; Kuber and Laxmi. These names come from Indian mythology and Kuber is the Hindu god of wealth and Laxmi is the Hindu goddess of fortune, riches and splendor.
The founder of Kublax, Sridhar Sethurman, also works at the company as the CSO and had already been contemplating launching Kublax in 2005. Mr. Sethurman was finally able to launch Kublax in September, 2007 and in that same year won the Seedcamp 2007 startup competition. Before working on Kublax, Mr. Sethurman had been working in the financial technologies industry for seven years and worked for some of Europe’s largest banks and insurance companies.
The other important person on Kublax’s management team is Tom Symonds, who is the company’s CEO. Mr. Symonds has over ten years of experience with internet businesses and brings an abundance of knowledge in important factors in running an internet business, such as developing, launching, and consolidating consumer websites. Mr. Symonds has worked on many consumer websites throughout Europe.
The third person on Kublax’s management team is Martin Campbell, who has 25 years of experience in working with financial services in the United Kingdom. Mr. Campbell participated in the foundation of Virgin Direct, which is Richard Banson’s earth-shattering financial service company; which has in the mean time been renamed Virgin Money. Mr. Campbell worked at this company and achieved the position of director of corporate affairs and worked on Virgin’s products. Mr. Campbell left Virgin in 2001 and advised many key players in the financial services industry, including Google, Interactive Investor, Moneyfacts, and others. His job at Kublax is being in charge of the company’s communications and media relations, as well as the government and several financial education entities.
Kublax’s investors include Digitalents Capital, Five Ventures, Omnis Mundi Invest AG, and the Accelerator Group. The amount of financing for the company is not disclosed to the public.
Digitalents Capital is a vc firm that aims to support talented entrepreneurs in the e-commerce industry. Digitalent Capital invests in European and Chinese companies and has offices in both Europe and China. Some companies in Digitalents’ portfolio include Born Group, Cara Time, Carmen Media, Wengo, Wunderloop, BornExpress, E*Trade Europe, and others.
Five Ventures was founded in 1998 as the vc arm of the Charlotte Research Institute based in Charlotte, North Carolina. The mission of the Charlotte Research Institute with its vc arm, Five Ventures, is to advance the inventions and commercialization of new technologies, especially in the Charlotte metropolitan area. The vc firm, however, does invest in some global companies if its team sees good promise for its technological product prototype.
Omnis Mundi Invest AG is a vc firm based in Germany and was founded by a group of CEOs who are determined to foster businesses in Europe. The sole goal of the team at Omnis Mundi Invest AG is to revitalize the entrepreneurial spirit in Europe. Some companies in Omnis Mundi’s portfolio include BuyVIP, Cavi, Widjet, and others.
The Accelerator Group (TAG) is a vc firm that is based in London, England and was founded in 1995. TAG mainly likes to focus its investments on companies in the internet services, e-commerce, and multi-channel retail industries. The geographical regions of TAG’s investments are the United States and Europe. Some companies in TAG’s portfolio include UserVoice, TweetDeck, Zemanta, Academia.edu, and others.
Kublax does have a few competitors out there. A couple of Kublax’s major competitors are Mint and Expensr.
Mint is a privately owned company that is based in Mountain View, California, and was founded in 2006. Mint offers a similar service as Kublax and has ten people on its management team. Five people sit on Mint’s board of directors and the company has one adviser.
Expensr is based in San Francisco, California, and is a subsidiary owned by Strands. The company is rather small with only two people on its management team and was acquired by Strands in 2008.
For more information about Kublax, click here.