WhatsApp-ening with my investments? VCs ask Portend for financial health check

3rd July 2024; Portend launches WhatsApp integration providing accessible real-time due-diligence for portfolio safeguarding with quick and easy access to simulated governance, financial auditing, communication sentiment and financial monitoring tools in Venture, Debt, Insurance and Sports.

You might assume that with $100M's AUM that VC Investment Directors would monitor the finances of their portfolio businesses? Oddly, they don't.

Despite financial data being readily available and accessible, 51% of venture and private equity firms said they NEVER check bank statements or account data post-investment.

Leaving investments unsupervised is not trusting, its reckless.

It's not an accessibility issue either, it's an ease of access issue. Investment Directors simply do not have the time or resource to be trawling through the financials of their portfolio businesses. As with everyone today, the easiest way to get critical information in front of an Investment Director is through their phone.

We know that Angels, LPs and Investors live in WhatsApp, so we're taking their work to them. Portend is now fully integrated into WhatsApp, equipping Angels, LPs and Investors with the financial insight they need to track portfolio businesses in real-time.

Julie Cunningham, Founder & CEO Portend, says; "Working with VCs we know they glued to their phones, but unsurprisingly given the amount of information flowing through their hands daily. With hundreds of portfolio businesses to keep track of investment directors face an insurmountable task of post-investment due diligence. Integrating Portend into WhatsApp empowers investment directors with the high quality specific financial data they need to make the right decisions for the health of their portfolio."

About to step into a board meeting? Type into WhatsApp "What is my portfolios current cash and runway balances?" and receive the information immediately from Portend's AI enabled platform. Users can access the data-driven chat and receive alerts, checks and insights from their portfolios as and when they need them.

A task that would have previously taken a chain of emails is now quick, easy and informative allowing for supercharged board meetings and the ability to protect investment much more effectively.

Portend's financial, communication, and simulated governance tools mean that at a glance, users can walk into any board meeting equipped with critical questions to take action early instead of reacting on a call.

Users won't be left on read with Portend!

The Portend WhatsApp preview video can be seen here: https://www.portend.ch/

For further information contact:
josh.cobb@jeffersoncommunications.co.uk

Salisbury House, Jefferson
London Wall

Portend https://portend.ch
Portend is a leading independent auditing and governance service provider, leveraging AI to help Founders, VCs, Boards and Investors protect shareholder value. It does this by providing real-time alerts for any anomalies or early warning signs to Boards to ensure the integrity of a businesses. Working from within a portfolio company, similar to a spam filter, it provides alerts against thousands of checks to ensure Boards have time to act - instead of reacting.

This release was published on openPR.