A Personal Investor's Frustration Sparks Innovation
Despite lacking a traditional financial background, Nick Marshall's journey to founding Quantraire began with his passion for personal investing. "I was always interested in investing as a retail investor. I wanted to understand the value behind businesses, which led me on a journey of discovery," shares Nick. Through conversations with professionals, he discovered their process was surprisingly manual and time-consuming – a problem he would eventually solve.
Engineering Meets Finance: The Perfect Foundation
With a mechanical engineering background and an innate love for numbers and analytics, Nick's path took an intentional turn toward finance. "Midway through my career, I focused more on financial numbers and completed an MBA specialising in finance and investment management." This unique combination of skills would prove invaluable in building Quantraire.
Streamlining the Complex World of Equity Analysis
Quantraire tackles a persistent industry challenge: the fragmented nature of equity analysis. "Currently, analysts have to use multiple different tools, which involves a lot of manual data handling and potential for errors," Nick explains. His solution? An all-in-one platform that combines financial market data, automated modeling tools, and trend analysis capabilities.
Pivoting to Find the Perfect Market Fit
One of the most significant pivots came in identifying the ideal customer. While initially targeting larger investment firms, Nick discovered a more promising opportunity: "We shifted to target equity research analysts in boutique firms, smaller firms that don't have the ability to absorb significant overhead costs from expensive software but need the flexibility to work quickly."
Currently, analysts have to use multiple different tools, which involves a lot of manual data handling and potential for errors 
Building with the End User in Mind
Rather than developing in isolation, Nick took a collaborative approach to validation. He reached out to his network of professionals, discovering a common thread. “The first part for me was validating that there was actually something worth pursuing here, and that was through understanding the job to be done for specific people.” He found that many were doing the same work but using different tools across multiple systems. “That was resounding feedback—wherever there’s a lot of manual effort, there’s always a chance to automate and optimise with the right tools and technologies.”
This insight led to iterative development with institutional investors and asset management firms. “I worked on the concept with a couple of institutional investors and validated it through them. Then, I started working on building the actual tool in an iterative fashion.”
I was doing this on my own and had never done anything like this before. I didn't really understand the startup ecosystem in terms of funding, mentorship, or even basic things like pitching
Finding Support in the Startup Ecosystem
Working solo on a startup can be daunting. "I was doing this on my own and had never done anything like this before. I didn't really understand the startup ecosystem in terms of funding, mentorship, or even basic things like pitching," Nick admits. This led him to Startup Aotearoa, where he connected with Kate Wightman from Soda for guidance. “The timing was perfect. The Startup Aotearoa program had just kicked off, and I reached out to Soda in Hamilton. I wasn’t sure what to expect, but it was really helpful. Initially, I had questions about what to do next, and they pointed me in the right direction or introduced me to people who could help on my journey. There were loads of available resources and access to people who had done it before, or at least had the information I needed. For me, it was the right timing for exactly where I was on my journey.”
Nick valued the local connection as well. "Being local, I just popped down to the Soda offices at Hamilton, and we caught up several times over the course of about six months. At each point, I was at a completely different stage in the journey—both in development and in my thinking about who to target and where to go next. Kate was particularly helpful in guiding me through validation and traction. It’s great to have an idea and a tool that works, but somebody has to buy it in the end."
The Catalyst for Growth
The Startup Aotearoa journey eventually led Nick to the Ministry of Awesome, where he joined the Founder Catalyst programme, marking a new chapter focused on commercial traction. “Founder Catalyst was recommended through Startup Aotearoa. I had reached a point where, on paper, I was ready to take the next step toward getting commercial traction or lining up future funding. Kate advised me to start understanding the funding landscape in New Zealand—not necessarily to secure funding immediately, but to get on the radar and start talking to people. At the same time, the top priority was gaining commercial traction and customers. Founder Catalyst was focused on exactly that.”
One of the biggest benefits has been accountability. It’s easy to drift when you’re working alone, with other priorities and life happening. Developing OKRs (Objectives and Key Results) and having regular check-ins on my progress have been invaluable.
Balancing Corporate Life and Startup Dreams
The transition from corporate life to founder hasn’t been without challenges. "What can be draining is dealing with the ambiguity of not knowing what's next," Nick reflects. Unlike corporate life, where there are clear guardrails, the startup journey requires constant reorientation.
While Nick anticipated the challenges of sales and marketing, administrative aspects caught him off guard. Founder Catalyst helped reveal administrative gaps—“there were areas I hadn’t even thought of”—which he's now actively addressing.
The Road Ahead
Looking ahead, Nick’s focus for the next six months is clear: "It's about getting users on board and gathering feedback as we continue refining the product and service." Despite the uncertainties, his motivation remains unwavering. "I know there's something here. I know it can help people and save them time. It's really just about finding the right application and market fit, and I’m excited about that."
Through regular OKR check-ins with his Entrepreneur in Residence and the support of New Zealand’s startup ecosystem, Nick is building more than just a platform—he’s creating a solution that could transform how boutique investment firms approach equity analysis.