Passfolio - US Stocks & Crypto Trading App
Role
Marketing Lead
Timeline
2019 - 2021
Location
San Jose, CA
Overview
In 2019, I joined a team building an app that let people invest in US stocks using their local currencies. The goal was to create a Robinhood alternative focused on emerging markets.
People in developing countries couldn't easily hold dollars or invest in US companies like Apple or Tesla. Traditional brokers either didn't provide access to US stocks or made investing in them expensive and complicated.
We built Passfolio to solve this. Customers could buy fractional shares of their favorite US companies using currencies like BRL, MXN and NGN. Accounts could be funded with crypto or local payment methods like Pix (Brazil) or Flutterwave (Nigeria). We also provided responsive multilingual support in English, Portuguese, and Spanish.
Key Channels and Tactics
Our team was small and we had to be resourceful — as a result, over 60% of Passfolio's growth came from organic traffic and referrals, not paid ads.
The Referral Program was at the core of our growth engine. It offered stock rewards ranging from $1 to $100 for deposits over $100, with a 60-day lock-up period to ensure program integrity and deter short-term exploitation.
Influencer Marketing significantly amplified Passfolio’s brand awareness. Some of the influencers we sponsored include Ana Laura Magalhães, Otavio Paranhos, Uriel Shark, Voepa Bitcoin, Investopi, and Damian Ruiz, among many others.
Local Partnerships were another key driver of growth. By collaborating with payment providers like FacilitaPay in Brazil, Flutterwave in Nigeria, and Bancolombia in Colombia, we provided a variety of funding methods, built trust in local communities, and expanded our reach. Portfolio aggregators like Status Invest and TradeMap allowed users to integrate Passfolio seamlessly into their financial portfolios, offering a comprehensive view of their investments. We also partnered with local tax reporting solutions, which was essential given our "novel" product mix of US stocks and cryptocurrencies.
Content Marketing helped us build authority and create demand. We flooded our social channels with educational content explaining US stock investing, crypto basics, and tutorials on how to use the Passfolio app (e.g. "How to place a limit order", "How to withdraw funds to your local bank account"). Our AMAs on social let customers ask tough questions directly, while our Telegram channel fostered ongoing dialogue and helped us keep a pulse on community sentiment.
Building Trust: How Passfolio Overcame Market Skepticism
Passfolio's launch taught me a harsh lesson: First movers have to build trust from scratch. Comments on our ads and social media posts revealed a lot of skepticism. People questioned how we could offer commission-free trading, whether we were actually regulated, and if we were even real. Many didn't understand what investing in US markets meant or how our platform worked.
In response, we decided to address each and every concern head-on:
We revamped our "About Us" page, featuring detailed team bios and putting faces to the company.
A dedicated page on the website provided an overview of our fees, transparently showing that we made money from exchange rate spreads on currency conversions.
Throughout the website, we emphasized that we were members of the SIPC and regulated by FINRA.
A comprehensive FAQ section on the site and app addressed common concerns like "What happens if Passfolio goes bankrupt?" to help overcome customer objections.
Frequent AMAs and a community channel on Telegram let customers ask questions directly and get honest answers from the team.
Pre-populated watchlists and informative tooltips throughout the app helped new customers feel confident from day one.
Social proof was also very effective. Customer testimonials on our homepage showed real people succeeding with our platform, while strategic partnerships with regulated local entities like RB Investimentos added institutional credibility.
Feature Launches
Throughout my time at Passfolio, we launched a comprehensive suite of products designed to make investing as simple as possible.
US Stocks and Crypto: Customers could invest in a wide range of assets and diversify their portfolios across 6000+ stocks, ETFs, REITs, and cryptocurrencies all in one place.
USD Debit Card: PassCard was a USD debit card linked to users' brokerage accounts. The card let users bypass egregious fees like Brazil's IOF tax and spend their investment proceeds in USD, creating a seamless bridge between investing and spending.
Smart Portfolio: Smart Portfolio addressed a common challenge – decision paralysis. With thousands of assets to choose from, customers often struggled to make their first investment. Smart Portfolio would recommend diversified portfolios based on risk tolerance (conservative, moderate, or aggressive) and periodically rebalance positions. This brought institutional-grade portfolio management to individual investors.
Passfolio Pro: Passfolio Pro was our premium subscription tier with benefits like interest on uninvested cash, margin loans, early access to new features, and advanced order types like trailing stop orders.
What really set Passfolio apart was our commitment to transparency and to the community. We made our product roadmap public and let customers vote on their favorite feature ideas. Building in the open was a key aspect of our culture and overall brand ethos.
Results & Acquisition
When I joined Passfolio, all we had was a waitlist. By the time I left two years later, we had over 200,000 users. Passfolio grew 3x in 2021, and the company was eventually sold to Santander, one of Europe's largest banks.
Our relentless focus on educating customers and addressing objections was critical to this success. The real challenge we overcame wasn't technical — it was psychological. We were asking people to invest in something completely new to them.
Our entire marketing strategy was built around earning trust. We simplified investing with localized content, addressed common concerns about security and regulations upfront, and launched features like our "Smart Portfolio" that gave customers the confidence they needed to get started with US equities and crypto.
This experience fundamentally shaped my views on customer centricity and is in part why I believe customer obsession is the best marketing strategy of all.
I also attribute Passfolio’s success to our ‘lean and mean’ team, which never surpassed 40 people. Carol Kowalsetskyj who led design was particularly great to work with. So were Fernando Tancredi and Bruno Pini, who set up our marketing analytics infrastructure and managed programmatic advertising.
"Will is a natural-born communicator and team player with outstanding people skills. He brings innovative ideas, executes tasks efficiently, and excels in team discussions. I've worked at many startups, across many teams, and from my experience people like Will are the kind that get businesses noticed and moving. Will is a valuable asset to any team."