Forbes which is one of the biggest business magazines is said to be acquired soon. There have been exclusive talks between Forbes Magazine LLC and GSV Asset Management in acquiring the former company. Letās look at the deal between Forbes Magazine LLC and GSV Asset Management.
According to people with knowledge of the matter, Forbes Media LLB has entered into the deal which will lead to acquiring the company by GSV Asset Management which is led by Michael Moe. The deal will increase the valuation of Forbes Media by more than USD 600 million.
Some people who requested anonymity in their names as the information was private said that the transaction between the company is not yet finalized but is expected to come to an agreement in the coming months.
A spokesman of Forbes Mathew Hutchinson said in a statement that they have no comment but have seen the investors in showing consistent interest in the company that has produced 3 years of record results. A GSV Asset Management representative had declined to comment on a statement that said 2021 is shaping to be a strong year as well.
Forbes is an American based business magazine. The company was founded in the year 1917 which is based in New Jersey, United States. The magazine features original articles on the topics such as industry, investing, finance, marketing, etc.
The company also provides reports on related topics which include communications, technology, politics, law and science. The magazine was founded by Bertie Charles in the year 1917 and later the company prospered under his son Malcolm.
Later the company was taken over by Malcolmās son, Steve who was the Chief Executive Officer and the President of Forbes and also the editor in chief of the magazine in the year 1990. The company is also involved in operating events. The brand has a worldwide reach of around 140 million people.
In the year 2014 Forbes Magazine was acquired by a Hong-Kong based company which is whale media Investments. The company owns the majority stake of 95 % in Forbes magazine and the Forbes family owns the minority stake of 5% in the company.
GSV Asset Management portrays itself as a merchant banker which advises and invests in a wide range of businesses. The founder of GSV Asset Management is Moe who was a veteran of Silicon Valley and later grew to become an equity research analyst.
The companyās website indicated that the firm is a multi-product asset management firm that is devoted to finding and aligning the fastest growing and the most dynamic businesses across the globe. The term GSV stands for Global Silicon Valley.
FAQ
Who is the founder of Forbes?
Bertie Charles founded Forbes in 1917.
Who owns Forbes India?
Reliance Industries owns Forbes India.
Who was Forbes?
The company was founded in 1917 by Bertie Charles Forbes and was taken over by Steve Forbes in 1990.
Conclusion
It is to be noted that Forbes Media isnāt the only media company for sale Even Tribune Publishing is said to in between a bidding war with Hotel Magnate Stewart Bainum and the hedge fund Alden Global.
Nomura Holdings which is a Japanese brokerage house has recorded a steep loss for the first quarter of 2021. Nomura had also booked a loss in the previous financial year amidst the Covid pandemic. Letās look at the reason given by Nomura holdings regarding the loss and the further steps taken by the company.
Nomura Holdings is a Japanese-based financial holding company that is one of the most important members of Nomura Group. The company was established in the year 1925 and has its headquarters located in Tokyo, Japan.
The company is part of the financial services, consulting and financial management industry. They provide their services to individuals, institutions and government customers on a global basis.
Some of the services provided by Nomura Holdings are Financial Services, Security Services, Retail Banking, Investment Management, Asset Banking and Asset Management.
Reason and Amount of loss
On 27 April 2021, Nomura Holdings has said that its losses from the collapse of a U.S investor Archegos Capital Management would amount up to USD 2.87 billion. This has put the Japanese-based Nomura Holdings under a steep loss.
In the first quarterly report, the company has recorded a loss of 245.7 billion yen which is related to the transaction with Archegos Capital Management. In relation to the same transaction, the company said that it will further book a loss of up to 62 billion yen in the current fiscal year.
In the first quarter, the overall loss booked by Nomura Holdings was around 155 billion yen (Around USD 1.4 billion). This is considered to be the first quarterly loss of Nomura Holdings in a year.
Nomura Holdings was one of the string of banks that were exposed to Archegos which is a New York-based investment company and family office which is run by Bill Hwang.
On 29 March 2021, Nomura holdings had already warned about the loss of around USD 2 billion which would arise from the transaction of the U.S client. Earlier Credit Suisse has also faced losses worth billions of dollars in regards to the transactions with Archegos.
Even the rival bank Swiss Bank UBS said on 27 April 2021 that it had lost an amount of up to USD 774 million from the trades which were linked to the same company. The quarterly loss of Nomura Holdings had increased to USD 2.3 billion as there was a decline in the value of the collateral.
As of 23 April 2021, the company has disposed of 97 % of the positions that are related to Archegos. The loss has occurred at Nomuraās prime brokerage unit through a business dealing with family offices and hedge funds.
Strategy of Nomura Holdings
Nomura Holdings has said that the company has reviewed all its positions in the units as well as the loans provided to the investors. The review has not shown any transactions which are problematic compared to Archegos.
The company said that it would focus on strengthening its framework in regards to the management of its risk by working together with the experts in the industry outside the company.
The CFO of the company Takumi Kitamura has said that this loss wouldnāt change the focus of the company on developing a business platform globally and doing business with the wealthy and risky investors.
He added that there wouldnāt be any change in their strategy of doing business especially with the overseas business that includes the trading business as well.
The CEO of Nomura Holdings, Kentaro Okuda had expressed a deep regret in regards to the huge loss faced by the company saying that otherwise, it would have been a great year for Nomura Holdings. He has promised that it wouldnāt be repeated.
He added on saying that they have created a lot of anxiety for their customers and shareholders and said that they will take the issue very seriously and make sure that such as situation will not repeat in the future by upgrading their risk management.
Okuda said that his responsibility is to create a platform to manage risk in a better way. The huge loss was recorded after Okuda finished his first year as CEO of the company. He was formerly the head of Nomuraās U.S operations.
Risk Management
In order to strengthen the risk management, the company has appointed a new CEO who was the former senior of J.P Morgan. The company stated Christopher Willcox was the new co-CEO and President of Nomura Securities International.
Willcox has worked with J.P Morgan and is a former CEO of J.P Morgan Asset Management. He has also worked with the Citi group for a term of 15 years.
FAQ
Is Nomura a Japanese bank?
Nomura is a Japanese financial holding company and a principal member of the Nomura Group.
What are the big 4 investment banks?
JPMorgan Chase, Goldman Sachs, BofA Securities and Morgan Stanley are the big 4 investment banks.
What is the meaning of margin call?
A margin call is usually an indicator that one or more of the securities held in the margin account has decreased in value. When a margin call occurs, the investor must choose to either deposit more money in the account or sell some of the assets held in their account.
Conclusion
The company has decided to focus on providing prime brokerage services to wealthy investors and to continue to do business with family offices. Kitamura added on saying that Family offices will continue to be one of the most important clients for them.
On 23 April 2021, the Reserve Bank of India had barred American Express and Diners Club International Limited from onboarding new customers to their platform. The ban is expected to come into effect from May 1. Letās look at why both the payment system operators American Express and Diners Club International Limited were banned by RBI from adding new customers.
The Reserve Bank of India had initiated a ban for the payment system operators from onboarding new customers into their network as they were not able to follow the norms with the data storage put forth by the RBI.
The Reserve Bank of India in a statement said that both the entities have been found to be non-compliant in respect to the directions on storage of data of the payment systems. The RBI has added that the action towards both the entities was taken based on the powers which are under Section 17 of the PSS Act.
American Express Banking Corp and Diners Club International Ltd are payment system operators in the country who has the authorization to operate card networks in India under PSS Act (Payment and Settlement Systems Act), 2007.
American Express Banking Corp is a multinational company that focuses on financial services. It is located in New York, the United States. The company was founded in the year 1850. American Express is considered to be the 23rd most valuable brand in the world according to the Forbes 2017 list.
Some of the products offered by the company are Charge Cards, Travelerās cheque, Credit Cards, corporate banking, etc. In India according to a report by Financial Express, American Express has a market share of around 2.53 % of the total market with around 15.6 lakh credit cards outstanding.
Diners Club International Ltd
Diners Club International is also known as DCI is a charge card company. It is a finance-based company that has its headquarters in the United States. The company was founded in the year 1950. Diner Club International was the first payment card company in the world.
The company is owned by Discover Financial Services. Some of the products of Diner Club International are charge cards and credit cards. In India, Diners Club International distributes its cards exclusively through HDFC Bank and the exact number of active users is unknown.
Why did RBI restricted American Express, Diners Club from adding more customers
In the year 2018, in a notification, the Reserve Bank of India had noticed that all the payment system providers did not stored the data of the payments in the country. The notification said that there was a significant growth witnessed by India in the payment ecosystem and such systems depend completely on technology.
The notification added that such an ecosystem has a necessity for a continuous measure of safety and security that were best in class.
The Reserve Bank of India had then directed all the system providers to ensure that the entire data which are related to payment systems should be stored in a system that is only in India.
The data which are stored should include the full end-to-end transaction details, information, carried, collected, and processed as part of the message or payment instruction. This was mentioned by RBI in its notification.
If there is any foreign transaction, those data can be stored in the foreign country if it is required. The compliances with the new rules were supposed to be followed by the system providers within 6 months and they had to report the same to the Reserve Bank of India.
In addition to this, they were also required to submit a report which should be approved by the board a System Audit Report (SAR). It should be conducted by the CERT-In empanelled auditor within the time duration that is specified.
The ban of American Express Banking Corp and Diners Club International Ltd by RBI is because they have failed to follow the statement given by RBI in regards to storing the data which was issued two years ago.
In India, American Express offers a full range of travel, financial and network service products.
What type of credit card is Diners Club?
Diners Club is an International Credit Card.
Who owns RBI?
RBI has been fully owned by the Government of India since its nationalisation in 1949.
Conclusion
The ban on both the entities would not affect the existing customers. The Reserve Bank of India had clarified in a statement that the ban will have no impact on the customers of both the companies.
The digital fintech startup Paytm has recently announced that it has launched a platform for its users to learn about investing. It has launched a video-based wealth community platform(Currently in beta stage) for the users to learn investing. Letās look at the further details of the New Community Platform Launched by Paytm for Learning Investments.
Paytm is an Indian based multinational startup company. They are an e-commerce payment system and a financial technology company that has its headquarters located in Uttar Pradesh, India. The company was founded in the year 2010.
The abbreviation of Paytm stands for āPay Through Mobileā and it encourages it with its famous tagline ‘Paytm karo’. The company was founded by Vijay Shekhar Sharma. Some of the companyās products are Paytm Mall, Paytm Payments Bank, Paytm Money, Gamepind, Paytm Smart Retail.
The services offered by Paytm are Payment systems, digital wallets, mobile payments banking, online shopping, etc. Some of the key investors of the company are Ant Group, SoftBank Vision Fund, Warren Buffetās Berkshire Hathaway, etc.
Paytm Wealth Community
On 26 April 2021, Paytm which is one of the largest fintech companies in India announced that it has launched a platform that is a video-based wealth community to revolutionize the Indians to learn, discuss and trade in the capital markets.
Paytm Wealth Community is considered to be Indiaās first community which will be based on investing. The platform will be video based and there will be live sessions conducted for the users of the community to ask doubts and discuss on the topics.
The live sessions will be conducted by the industry experts and will cover a wide range of topics for the users such as stocks, futures and options, ETFs, Mutual Funds, IPO, Gold, Fixed Income and Personal Finance.
Paytm Wealth Community
The platform will provide a chance for users to learn from the experts in the industry, discuss their doubts with them and also chat and grow together with their fellow learners. The users on the platform will discuss on various wealth related topics.
In todayās world, the way the youth learn, interact and transact has seen a rapid evolvement. The social interaction between peers has been greatly influenced by the growth of apps and other social media platforms.
It is seen that the social media platform and communities on various other sectors have seen a considerable growth, the digital platforms communities and groups have grown over the years, but there has not been a trustworthy digital platform and a reliable platform for wealth management.
Paytm intends to cover it up and build a trustworthy and reliable wealth management platform for the youth through its new community. It is taking a step to fulfill the requirements of the Indian Investors by launching the platform.
The platform will contain live video content with an interactive chat platform and creators are planning to conduct the sessions for a time period ranging from 30 minutes to 60 minutes. The sessions are expected to be launched in various languages such as Hindi, Gujarati, English and many more.
The platform is under beta testing and Paytm has onboarded a limited set of users. All the creators will have to go through a KYC process which will be a step for ensuring the safety of the retail investors. All the contents will be recorded and checked.
The roadmap of the product and technology is expected to completely transform the user experience. Over the period of time, the users will be able to create a customized discussion room by setting up their creator account and will also be able to chat in a controlled environment.
Paytm expects that the next 100 million capital market investors will be originated through investment communities and social groups and the wealth community of Paytm intends to be a leader and helping the investors to save, trade and invest better.
Beta testing
Paytm has said that users who have received the access to the wealth community launched by Paytm will be able to see a calendar that will have a list of the video sessions available on the platform. The beta testing feature is expected to be for the period of two months and later it will be opened to access to all.
The CEO of Paytm money, Varun Sridhar said that Paytm money was a natural choice by the company for its beta testing platform for the wealth community. Paytm money has direct access to a broad range of investment communities and has a reach across India.
Paytm Wealth Community also offers an opportunity for the experts in the industry to create a personal brand by creating their content and sharing their knowledge with millions of budding investors. This will be a platform to create a personal brand in the capital markets industry.
The company is supporting anyone with the required skills and has a significant social impact to create a personal brand. For starting the registration process, they will have to mail to pwc@paytm.com.
FAQ
Who is the current owner of Paytm?
One97 Communications Ltd is the owner of Paytm.
Who is CEO of Paytm?
Vijay Shekhar Sharma is the current CEO of Paytm.
Is Paytm Chinese company?
PayTM is owned by an Indian company by the name of One97 Communications Ltd.
Conclusion
The capital investors in India have seen a significant rise in the last two years because of the pandemic. People are looking forward to growing their wealth through capital markets due to the layoff of jobs. Platforms such as Upstox, Groww, Zerodha and Paytm money has seen a subsequent increase in their user base.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by the organization it is based on.
Finance is a word which everybody has come through and will be going through for perhaps ages also. People love money, love to become rich but most of them don’t know how to manage money. It’s not about hope, but it’s all about proper management.
Bajaj Finserv is a popular firm in the marketplace for loans and money building. It fulfils the dreams of the common people. It provides all types of loans such as personal, home, business loans, etc. It is also engaged in life and general insurances.
Bajaj Finserv – Startup Story
Bajaj Finserv Logo
The company began in April 2007. It was the resultant of the demerger from Bajaj Auto Limited as a separate element to completely focus on the financial services business. The process got completed in February 2008. This was done not only to unlock the value of the business growth in the areas of finance, insurance, etc. but also to strengthen the core businesses. This demerger has facilitated the investors to hold separate stocks and transparent benchmarking of the companies in their respective industries. The constantly changing Indian economy has led to the creation of different customer requirements.
Jamnalal Bajaj is the founder of the company. He is an industrialist. He is the founder of the Bajaj Group of companies. He was very close to Mahatma Gandhi. He was born in 1889, near Rajasthan in a well-to-do Marwari family. He was the third son of his parents. Later, he was adopted and got settled in Maharashtra. After adoption, he was into the family business. During that period, he gained the qualities of a skilled tradesman, bookkeeping and selling and buying of commodities. With time he improved in his task and founded the Bajaj group of industries.
Bajaj Finserv – Business Model
The company especially focuses on insurance, lending, asset and wealth management. Apart from this it also focuses on it’s existing customers. The company considers sustainability to be a very important aspect. Satisfying customers is the main task of the company. This results in a recommending thing. The more customers are satisfied the less the company worries about achieving new customers. It aims at continuous improvement, change and reinvention. Detailing of the loans and all kinds of facilities are accessible within their portal. Creation of trust is a kind of obsession for the company.
The company earns money by attracting a large number of customers with zero cost EMI schemes. But in reality, there’s always a thing called processing fee which works behind the entire procedure. In case of any late payment, interest can go up to 35 to 40% a year. It also provides various offers to its customers to create a large database. It is done to ensure greater sales. Tie-ups lead to a big amount of revenue income.
Bajaj Finserv – Investments
Bajaj Finserv has made 3 investments till date.
Date
Organization Name
Transaction Name
Money Raised
December 21, 2019
Karvy Data Management
Corporate Round
–
October 5, 2019
Federal Transport Private Limited
Debt Financing
$28,000
August 3, 2017
MobiKwik
Series D
Rs 2.3 billion
Bajaj Finserv – Growth
There’s a continuous growth seen in the records of the company. Of the total income in September the quarter rose to INR 6,609.34 crores from INR 4,632.81 crores in 2018. Interest income grew by 37.62%. The amount increased from 4,465.61 crores to 6,145.97 crores. Commission income and fees also increased. It jumped from INR 259.36 crores to INR 628.37 crores. Revenues from the insurance business grew to INR 7,904.85 crores from INR 5,403.69 crores.
The top competitors of the company are IDFC FIRST Bank, Shriram City and Mahindra Finance.
IDFC FIRST Bank is the top rival of Bajaj Finserv. It was founded in 2015 and is headquartered in Mumbai, Maharashtra, India. It is a Public company. It works within the Diversified Financial Services industry.
Shriram City is also one of the top rivals of Bajaj Finserv. It was founded in 1986 and is headquartered in Chennai, Tamil Nadu, India. It competes in the Diversified Financial Services field.
Mahindra Finance is one among the top competitors of Bajaj Finserv. It is headquartered in Mumbai, Maharashtra, India. It works in the Diversified Financial Services field.
Bajaj Finserv – Future Plans
The insurance business witnessed a pickup in activities currently. The company is aiming towards improving the asset quality of the business and the earnings growth. Product innovation is also being expected to keep the insurance business healthy.
Bajaj Finserv – FAQ’s
How can I talk to a Bajaj Finance customer care executive?
You can reach us on 8698010101 (call charges applicable) for your loan and EMI Network Card-related queries. If you are calling from a non-registered mobile number, please keep your 7-digit customer ID or EMI card number handy for verification.
Is Bajaj FD safe?
Your savings are safe with a Bajaj Finance online FD, which is accredited with the highest safety ratings of FAAA by CRISIL and MAAA by ICRA. These high ratings indicate the highest safety of deposit and timely repayments.
How can I get a 50000 instant loan?
Meet urgent funding requirements with an instant personal loan of 50,000 Rupees from Bajaj Finserv. Fulfill minimum eligibility criteria and complete a hassle-free application process to receive instant approval and quick disbursal of INR 50,000 loan. Avail of the advance without providing any collateral.
How can I check my Bajaj EMI card eligibility?
Firstly, the eligibility criteria require you to be between 21 and 60 years of age with a steady income and a good credit history. You should also have a residential address and a bank account in India. After this quick check, you can instantly sign up for the Bajaj Finserv EMI Card if you are eligible.
Is Bajaj Finance good investment?
Though company fixed deposits come with some risk, Bajaj Finance FDs ensure that you have nothing to worry about. They carry the highest credit ratings of FAAA by CRISIL and MAAA by ICRA. These ratings indicate that your investment is safe and that you will receive the maturity returns on time and in full.
Bajaj Finserv – Conclusion
Bajaj Finserv is a company that approves loans and funds in accounts within 24 hours. It is a part of Bajaj Holdings & Investments Limited. It is a financial services company. It especially focuses on insurance, lending and asset and wealth management.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Figg.
There are multiple financial decisions that one makes in a day, be it a minor or major transaction. But, in order to make an optimal decision, it is important to consider all the factors regarding it like future prospects, current budget, income, expenses etc. Here, comes the role of FIGG!
Figg brings all the material data to one place automatically and helps users understand the impact of their financial decisions. In simple words, FIGG analyses the finances and expenses of users and then makes suggestions on how to go about it. Is attempts to answer questions like – Whether to buy a certain product, say, TV? or How optimal is this investment based on future plans?
StartupTalky interviewed Sachin Gupta, the founder of Figg, to know the Journey of Figg and how it is going help people make better financial decisions. Also get a glance on Figg Business model, startup idea, Figg App features, founder and more…
Figg helps users make better financial decisions. The Figg App is available on android only. However, the team is planning to launch the iOS version soon and later a web application.
If you think about it, most of the financial advice available on the internet is quite generic in nature. FIGG also helps users by providing personalized advice based on their financial situation without much effort from users – Says Sachin Gupta, Founder, Figg
Figg Logo
Figg team has built its own in-house Neuro Linguistic Programming (NLP)/ ML engine to process financial transactions and statements. The NLP engine extracts useful financial information from text without explicitly being aware of the source. Figg collects financial information by analyzing the transaction statements received by the user via SMS or emails. It uses machine learning (ML) algorithms to analyze the data and makes suggestions to the user for better financial decisions.
Figg is monitored by Google for security and data leak concerns. The Figg app has also undertaken a security review with Bishop Fox, a US-based security firm.
āWe follow all best practices – from strong passwords for the system to encryption of the sensitive data. All the data is kept encrypted at rest” Sachin says
Impact Calculator and Affordability Calculator are the main features offered by Figg.
Impact Calculator & Affordability Calculator: Using this feature any user can check how making certain financial decisions will impact their financial well-being. For example, if a youngster with limited financial resources buys an iPhone, this might impact their monthly commitments as well. However, for a person with a high salary, buying an iPhone wonāt even make any difference other than fewer investments during the period. These features help people make informed decisions.
Another important feature of Figg is the simplified score to represent usersā financial health. Finance is complex and has different aspects (savings, investments, loans, credits, expenses, etc.). It is quite difficult to track and understand the impact of different aspects for a user. Figg has built a proprietary score to represent user financial health.
Sachin is an engineer by profession and holds MS in AI/ML from IIIT Hyderabad. He has experience in building large scale systems in AI and ML. Before starting FIGG, he worked at Google in the Fintech domain, catching fraud financial transactions. Sachin began his career with Rediff.com working directly with Ajit Balakrishnan.
FIGG Founders and Team
Currently, Figg has a team of 9 and headquartered in Hyderabad. The team is a mix of people from technical and non-technical background. Sachin Gupta (Founder of FIGG) works from California, while his team from Hyderabad.
Figg – Ideation and Startup Journey
Finoramic initially was a B2B player and was associated with other fintech companies. However, the company realized that the platformās capabilities were not utilized at best & all noticed that slow adoption. Therefore, Finoramic pulled out B2B and introduced B2C as Figg App.
From Sachin’s personal experience, he noted that making financial decisions is quite difficult given the complex financial landscape. Most of the time, users keep delaying financial decisions or keep money at the wrong places or take advice from the wrong people.
Sachin realized that there were many apps that made it very easy to invest in shares or mutual funds, but there wasn’t any player in the market, who could give the user a comprehensive financial view and help in everyday financial decisions.
Questions like – Should I buy an iPhone or an Android? Will going on a Europe trip right now affect my future finances? These are simple questions but important to one’s financial well being or health
“However, the major eureka moment happened when a bank agent sold my 60-year-old mother a ULIP policy. My mother didn’t need an insurance policy at this age, as she is financially sound and there weren’t any liabilities” recalls Sachin (Founder & CEO, Figg)
Figg was launched recently in September 2020. It currently has a user base of over 20,000. The Figg team started working on the platform in 2017. Their initial focus was to build the backbone of the platform. At the end of 2019, the team started to build a consumer app, Figg.
Sachin (The founder & CEO of Figg) believes that although millennials and Gen Z people are digitally savvy, they’ve got limited financial understanding. Moreover, There is no personal connections for financial advice in the city lived by most of them. Keeping all things aside, Digital Savvy group is a good user base for Figg Application.
Figg – Business Model and Revenue Model
Figg app was launched in September 2020 and is currently not generating revenue. As the app would gain momentum and records more users, the company will go for a freemium model. That is, users will be charged between Rs 30 to 50 for value-added services.
Finoramic (Figg’s parent company) has raised two rounds of seed funding from angel investors. (The startup didn’t reveal financial and investor details)
Figg – Competitors
Figg’s top competitors are Mint, Spendee, Expensify, and Pocket Expense, among others. Though the competitors’ apps are similar, there exists a minute difference. While other apps focus on better money management, Figg also analyzes and helps users understand the future impact of their decisions.
Figg’s goal is to have 100,000 users by year end 2021. In the long term, it wants to become the default financial advisor for anyone seeking financial advice.
Figg – FAQS
What is Figg?
Figg helps users make better financial decisions. The Figg App is available on android only. Figg analyses the finances and expenses of users and then makes suggestions on how to go about it.
Who is the founder of Figg?
Sachin Gupta is the CEO and Founder of Figg
Is Figg Free?
The company will go for a freemium model. That is, users will be charged between Rs 30 to 50 for value-added services. But the basic features, will be for free.
When was Figg founded?
Figg was founded in 2017 and launched in September 2020.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by the organization it is based on.
We all love being protected. Nowadays we do not feel safe to carry money with us in our pockets while going outside for shopping or maybe having food in the restaurants. Rather we all prefer credit or debit cards. These cards help users feel safe.
Nubank is the largest Fintech in Latin America. It is a privately held company which deals with Financial Services. Nubank has also got an engineering office in Berlin and Mexico City and is headquartered in SĆ£o Paulo, Brazil. The company provides a credit card to the consumers which can be controlled with the help of a phone 24×7. Read the Nubank success story below.
Nubank is a platform that processes, issues, transfers and administrates payments related to post-paid credit cards. The company has launched a digital account named ‘NuConta’. It is used by more than 17 million people.
The procedure took a long period of four months. He knew that anywhere he would go in Latin America, he would experience the same. There half of the population has got neither credit cards nor bank accounts. So, he decided to build something modern and different aptly titled Nubank.
Edward Wible is the founder and the CTO of Nubank. He is a graduate in Computer Science from Princeton University.
Cristina Junqueira is the co-founder of Nubank. She began her career from Boston Consulting Group. She has got a bachelor’s and a master’s degree in engineering from the University of Sao Paulo.
Cristina Junqueira, Edward Wible and David Velez (left to right), Founders, Nubank
Nubank – Business Model
The company offers the customers a low interest and a no-fee credit card which can be managed with the help of Android and iOS. Users can track and control their purchases with the help of this platform.
Nubank makes money with the help of the credit card the company provided to its users. Whenever a purchase takes place through the credit card, the organization pays a small percentage of money through the Mastercard network. In case a customer decides to pay the bills in instalments, the company receives interest.
Nubank has raised a total amount of $1.5 billion in funding over the 11 funding rounds.
In Jan 2021, Nubank announced a funding round of $400m which came at a $25bn valuation on the company
Date
Transaction Name
Money Raised
Lead Investors
Jan 28, 2021
Series G
$400M
GIC, Invesco, Whale Rock Capital Management
June 4, 2020
Venture Round
$300 million
–
July 26, 2019
Series F
$400 million
TCV
October 8, 2018
Secondary Market
$180 million
Tencent Holdings
March 1, 2018
Series E
$150 million
DST Global
August 17, 2017
Debt Financing
–
Fortress Investment Group and Goldman Sachs
December 6, 2016
Series D
$80 million
DST Global
April 27, 2016
Debt Financing
$56 million
Goldman Sachs
January 7, 2016
Series C
$52 million
Founders Fund
June 2, 2015
Series B
$30 million
Tiger Global Management
September 25, 2014
Series A
$14.3 million
Sequoia Capital
No. of investors – 15
Nubank – Growth
Nubank has already experienced growth in the first half of 2020 because during the pandemic many consumers turned to online mode. The company saw a 48% of increased revenue growth from December 2019 onwards. During that time, the number of transactions got doubled on the platform. The customer base now stands at 35 million customers in brazil in 2021, which is more than double compared to 2019. According to the reports, Nubank receives an average of 41,000 new users a day. On plans of International Expansion the company stated that it will soon start its operation in Columbia. .
Number of customers of Nubank in Brazil from 2016 to 2020
Nubank – Acquistions
In January 2020, Nubank made its first acquisition by acquiring Plataformatec, a company that specialized in software engineering and agile methodologies.
In September 2020, Nubank acquired Easyinvest, an investment broker also from Brazil for an undisclosed amount.
Nubank – Competitors
The top competitors of the company are Atom Bank, Monzo Bank, N26 and Monese.
Atom Bank is a privately held digital financial company founded in 2014. It works in the financial services sector.
Monzo Bank is a privately held digital company founded in 2015. It operates in the financial services technology field.
N26 is a privately held company founded in 2013. It competes in the financial services sector.
Monese is also a privately held company founded in 2013. It works in the financial services field.
Nubank – Future Plans
In 2019, Nubank started its international expansion. It began its operation with Mexico. Then, it had 8.5 million customers and it claimed itself to be the biggest online bank outside Asia. The Mexico office started with 20 staff members and had plans to quadruple within 2020.
The company has been studying the Mexican financial system for various years, and estimated that around 36 million Mexicans do not have a bank account. Therefore, Nubank came with the decision to extend its empire but there are no plans to widen into other markets such as Europe.
Nubank – FAQ
What is the revenue of Nubank in 2020?
The revenue generated by fintech company Nubank in Brazil during the first six months of 2020 amounted to 2,079.22 million Brazilian reals.
How does Nubank make money?
Whenever a purchase takes place through the credit card, the organization pays a small percentage of money through the Mastercard network.
Is Nubank a bank?
Nubank is one of the largest digital bank in the world, with a customer base of more than 35 million.
How many customers does Nubank have?
Nubank has a customer base of over 35 million.
Where is Nubank located?
Nubank is a Latin American neobank headquartered in SĆ£o Paulo, Brazil.
What is the valuation of Nubank?
The Valuation of Nubank is $25 billion as of 2020.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Sqrrl.
Today, in contrast to savings, the internet offers various unprecedented methods to spend money. One can easily see that spending have become increasingly easier and savings has become gradually difficult. To bridge this huge chasm between saving and spending patterns, Sanjeev and Samant decided to tap a new market – the millennials & GenZs , by launching Sqrrl.
Sqrrl is a wealth management platform founded by Samant Sikka (Chief Dreamer), Sanjeev Sharma and Dhananjay Singh. The Sqrrl team works to simplify personal finance for millions of young Indians. Sqrrl’s mission is to impact the lives of 3 million young Indians by helping them save, invest and prosper by 2021!
StartupTalky interviewed Mr. Samant Sikka (Founder & Chief Dreamer, Sqrrl) to know about the Sqrrl Success Story along with getting a glance on How Sqrrl started, Sqrrl Funding, Business model, growth, founders, products, future plans & more…
Sqrrl is a platform aimed at helping young Indians save their earnings while keeping things simple. With Sqrrl, it’s not about putting away large chunks of salary, but rather small sums with just a couple of clicks. Sqrrl is a wealth management platform. Sqrrl is an app-only platform with the MVP around savings and investment products powered by Mutual Funds.
Technology is being used for the greater good today, even in personal lives. It is an attempt to stay at the forefront of this new wave of technology by combining a great user experience with something substantial. The Sqrrl team works to simplify personal finance for millions of young Indians.
As of today (Feb 2021), Sqrrl provides 7 different products under their app ā
Sqrrl operates in the personal finance space. The main target users are young Indians – both millennials and GenZs.
With an acute focus on the financial aspirations of the new age generation, Sqrrl is geared to capitalize on India’s 440 Mn millennials (390 Mn GenZ). The challenge here is that the younger generation finds financial products, boring, jargonized and not adding any value to their lives. The company wishes to change that by offering simple financial solutions that will bring a huge change in the financial wellness of its customers.
Sqrrl – Product/Service offered
The Sqrrl platform gauges the personalized investment needs of individuals and matches them with funds available in the industry. It is like a personal finance buddy that one can rely on to save and grow money. Sqrrl is an app-only platform with the MVP around savings and investment products powered by Mutual Funds.
As of today (Feb 2021), Sqrrl provides 7 different products ā Systematic Investment Plan (SIP), Goal-based investment, Axe Tax, Sqrrl Away, Lump sum investment, Fixed Deposit and Personal Loans ā under the app.
Samant Sikka (Chief Dreamer), Sanjeev Sharma and Dhananjay Singh are the co-founders of Sqrrl.
Samant Sikka (Founder & Chief Dreamer, Sqrrl)
Samant Sikka, the founder of the fintech has over 20 years of experience in financial services. He has major stints in Sales, Business Development, Strategy and Marketing with firms like Franklin Templeton, AIG Investments, Goldman Sachs & Axis Asset Management.
Samant Sikka, Chief Dreamer & Founder, Sqrrl
Sanjeev Sharma (Co-founder, Sqrrl)
Co-founder, Sanjeev Sharma, has over 16 years experience in financial services with background in business setup and expansion, financing and operational excellence with firms like Franklin Templeton Investments, AIG Investment & Pine Bridge Investments. Sanjeev and Samant have worked together in the past in Franklin Templeton and AIG and continued to be in touch.
Dhananjay Singh (Co-founder, Sqrrl)
The founders were very clear about the role of technology in solving the challenges for the customers and therefore, decided to bring in Dhananjay, who brought the Tech domain to the team which plays a critical role in our business. Co-founder, Dhananjay Singh is an IIT-Kharagpur graduate with an experience of over 20 years in data science and analytics, a professional with products and canned solutions background with firms like PWC, Tech Mahindra, United Healthcare and Axtria.
Sqrrl came into existence in early 2017 with the sole aim of simplifying personal finance for young Indians. The journey behind establishing Sqrrl is best described by Mr. Samant Sikka and Mr. Sanjeev Sharma who collectively have over 37 years of experience in the financial services.
Between 2006 to 2016, both Samant and Sanjeev observed an alarming trend with regards to savings in Indian households. India, which is generally described as a saving-oriented country, saw a huge dip in household savings in the last decade wrapping up in March 2016. Statistics show that household savings fell from 22% to 19% as compared to GDPās ratio, which increased from Rs 0.23 lakh crore to Rs 1.36 lakh crore during the same 10 year period. Ā
Today, in contrast to savings the internet offers various unprecedented methods to spend money. One can easily see that spending is becoming increasingly easier and savings is becoming gradually difficult. To bridge this huge chasm between saving and spending patterns, Sanjeev and Samant decided to tap a new market – the millennials & GenZs.
Before launching Sqrrl, they did a hands-on primary research by meeting with salaried millennials at coffee shops, eateries and even hosted āPizza & Beer on usā sessions. Sanjeev and Samant ended up meeting approximately 400 young Indians in the age group of 25-35. The intent was to understand their relationship with money and challenges, whatever they were. Through these sessions, they collected some very powerful feedback.
Sanjeev and Samant says – The biggest lesson that we learnt is that for millennials the value of money as a concept has completely morphed into money-as-a currency, a mere tool to spend on stuff that they like.
Along with that, the biggest revelation faced by the founders of Sqrrl was – Ā that a significant portion of this generation is living from salary to salary with barely any savings. Even though they are starting to work earlier than the older generations and getting higher salary packages, they are still struggling to save for anything. Using this feedback, they built multiple financial products to promote both savings and investing.
The founders were very clear about the role of technology in solving the challenges for the customers and therefore, decided to bring in Dhananjay, who brought the Tech domain to the team .
As one would think, the name Sqrrl was inspired by the tiniest of animals, Squirrel.
Sqrrl Logo
The main reason behind it is that a squirrel, despite its small size, plans for the future carefully. It saves a small amount of nuts gradually to build a full stock for the winters. And it does so, by being prepared for even the most desperate times in advance. The sheer size of the whole affair – a small squirrel working hard to save small everyday to make a full pile for the winters is very motivating. The main idea to imbibe financial discipline into young minds through a new financial product – to promote both savings and investing which fortunately, was achieved very well by this.
Thatās what the founders of Sqqrl wanted people to think of when they looked at the brand. They wanted to use a young, fresh and vibrant brand name which millennials will associate with. Saving a small amount of money over a long period of time can do wonders.
Sqrrlās business model is a combination of B2B and B2C.
Sqrrl has an app that helps the customers directly in saving and investing in mutual funds and taking personal loans
Sqrrl also has multiple integrations with banks and NBFCs that helps in bringing a substantial amount of revenue.
The platformās subscription called Sqrrl Prime is another source of monetization for the business.
Sqrrl – Startup Launch
For the first 100 users of Sqrrl , it was a soft launch. The initial users were mainly people from the founders’ network. Slowly, the team started communicating with its target users through educating them about the need for financial planning in todayās world.
With education comes awareness and we were banking on that awareness to drive our product further into the hearts and mind of people. Facebook and Google definitely helped us in increasing the traction during initial days and even now – Says Samant Sikka (Founder, Sqrrl)
The initial challenge faced by the Sqrrl team was to build a Minimum Viable Product(MVP). There is no debate that one will always have aspirations to build a fully loaded offering with scarce resources. Humans are very optimistic like but it was important to draw a line. Therefore, few of the important decisions that the team had to make were about saying NO. Say NO to many features that the various customers will need. Instead of that they focused on building a sharp cut around a user persona with a particular use case.
In Sqrrl case, the team decided to start with saving and investment products, powered by mutual funds, specifically converting the challenges that they had heard from the target audience into Sqrrl’s offerings. However, all the challenges get magnified in case of financial services as there are multiple regulations to adhere to in letter and spirit. The list of things that one cannot do is longer than the things that you one do.
Since the founders of Sqrrl came from the industry some of the industry partners were very encouraging and offered support in making the journey of Sqrrl less complex. The other important challenge was around theproduct, execution and team. The enough time was spent on studying the ecosystem to build a product that spoke to people in everyday life.
An important decision that the Sqrrl team took was not outsourcing the technology, which meant that they had to slowly but surely start to put together a handpicked team of competent and domain experts who had been able to deliver a great product in a short time frame. There are other challenges that need attention in early days which are Product, Team, Execution, Infra and Funding. Some of these factors can be a big drag on the founderās bandwidth, the ROTI (Return on Time Invested) is not very high, especially in early days.
“We made some decisions that helped us keep ourselves away from distractions. For example, one of the most important agendas was to keep fixed costs low and flexible, therefore we decided to work out of a co-working space Sproutbox” Says Samant
Fundraise is another time sapping activity and a big distraction from the core of the business.
“We, in the founding team were coming with approx. 2 decades corporate experience. Each decided not to raise any monies till we have demonstrated our ability to execute and therefore bootstrapped the venture initially. These were the easier parts which meant that we kept ourselves away from distractions” Samant added.
During 2020, Sqrrl expanded its wings beyond the sphere of savings and investment. It launched many new products and features to solve various financial problems of the customers. These include income tax return e-filing, starting a Fixed Deposit (FD), offering loans, a subscription plan called āSqrrl Primeā and protection products like accidental insurance.
Sqrrl’s partnership for offering Goal based investments with ICICI bankās MINE, a millennial banking platform has also gone live in October, 2020.
Sqrrl – Funding and Investors
After almost a year being bootstrapped, Sqrrl raised the the first round of funding from Equanimity Ventures in June 2018 for 1 Million USD.
Sqrrl is fortunate to be led by a team of fantastic mentors including Carl Richards, Advait Dikshit and Shripad Nadkarni.
Carl Richards
Richards is a certified financial planner and has been the creator of the Sketch Guy column, appearing weekly in The New York Times since 2010. He is also the author of the book called The Behavior Gap which has been a huge hit.
Advait Dikshit
Dixit has been a management Ā consultant for the past 19 years and is an avid speaker.
Shripad Nadkarni
Shripad Nadkarni is a brand and marketing Guru and presently also the co-founder of Maverix, which is a Mumbai based startup in the food space.
Sqrrl – Competitors
Some of the Top Competitors of Sqrrl in the market are Groww, ET Money, Fisdom and Scripbox.
Sqrrl got selected at the Reliance GenNext Hub, a scalerator program run by Reliance Industries and Microsoft ventures amongst 23 startups picked from approx. 1200 applications.
Sqrrl also have been featured in #Hot100 Startups in India.
The Sqrrl app has been featured on multiple occasions by both the Google Playstore Ā and Apple App Store for its design and features
Sqrrl – Future Plans
In the future, the Sqrrl app plans on offering international investing, and stocks to its customers. Currently, the company is focusing extensively on partnering with banks, NBFCs and other platforms to enhance its distribution and reach.
In addition to that, Sqrrl have tie-ups with banking correspondent platforms and many more of these interesting partnerships are already under integration and closure. With the fast and fantastic evolution of the company, it is constantly finding channels to raise resources by speaking actively with financial and strategic investors.
Sqrrl – FAQs
What is Sqrrl?
Sqrrl is a wealth management platform founded by Samant Sikka (Chief Dreamer),Sanjeev Sharma and Dhananjay Singh. The Sqrrl team works to simplify personal finance for millions of young Indians.
Who are Sqrrl Founders?
Samant Sikka (Chief Dreamer),Sanjeev Sharma, Dhananjay Singh are the founders of Sqrrl.
How much funding has Sqrrl raised?
The first round of funding for Sqrrl came from Equanimity Ventures in June, 2018 for 1 Million USD.
Who are the Top competitors of Sqrrl?
Some of the competitors of Sqrrl in the market are Groww, ET Money, Fisdom and Scripbox.
If you think of any reality TV show having an equal number of lovers and haters it has to be Bigg Boss. The infamous TV reality show which is based on the UK TV show BIG Brother has been running 14 successful seasons in India so far. The show has a huge audience base and crazy fan following all thanks to its unique set up and Bollywood biggie Salman Khan as the host.
The show has been a viewers favorite for three things. The host Salman Khan, Bigg Bossā voice and the house. This show is for entertainment purposes but never runs out of controversies. Be it Shilpa Shetty being bullied in BIG Brother or the nasty fights between Rashmi Desai and Siddharth Shukla in season 13.
The show has been shot in various locations with a few seasons in Karjat and Lonavala and the latest one was shot in Mumbai. The factor that attracts most of the viewers apart from the contestants is the Bigg Boss house. The Bigg Boss house has been remodeled several times for each season. This season has been special since the house had a new movie theatre, gym and spa which was accessible to the contestants only after accomplishing respective tasks.
The format had been similar to previous seasons except this time along with celebrities it had commoners too. For those of us who do not know what Bigg Boss is and how it works, the contestants are supposed to make their way through a number of days/episodes in the house to the finale without any source of entertainment like TV, laptops and even their phones. Every contestant aces the rounds on his or her own tactics and tries to avoid elimination. Contestant who has sustained all the episodes till the end wins the show.
The viewers might be finding it hard to believe as to why a celebrity would live in a house that has confined them away from their family and friends, has quarrels and conflicts all day long for three months. Take a hint.
Bigg Boss contestants are paid a handsome amount of money every week for being a part of the show. Let’s have a look on how much the show can afford to pay them in order to keep us entertained.
Including the wild card entries hereās a full list of Housemates who were a part of BIGG BOSS 14 and how much were being paid every week throughout the show.
Rubina Dilaik, popularly known as the TV serial Bahu was crowned the winner of Bigg Boss season 14 and took home Rs 36 lakh. Rubina, along with the finalists, paid Rs 14 lakh from her prize money earlier in the show to make it to the top finalists. Singer Rahul Vaidya was announced as the runner up.
Rubina Dilaik – Bigg Boss 14 Winner
Bigg Boss – A Relief during Pandemic
Bigg Boss has a huge audience base since the inception of the show. It is safe to say that the number of viewers over the years have only grown. Analysts were worried because Bigg Boss had to fight for attention over the IPL matches starting soon during the same time. But creators were sure Bigg Boss would not be neglected as the overlap was insignificant.
Viewers have always wanted something fresh and entertaining from the industry, more so during the pandemic. Bigg boss has had more than 300 million viewers so far and each season, this number is going up.
While some viewers may find the show annoying to its very core, the others find it surprisingly entertaining. The quarrels, conflicts between the housemates, politics and tasks that are performed are the highlight of the show. While one half asks for it to be shunned permanently, the other half is all in for the drama and chaos.
The investment landscape in India is fragmented and spilt between the haves and the have not. Over the last decade, India has seen an increase in the inflow of foreign direct investment (FDI). More MNCs have been opening their offices and expanding their businesses here, resulting in a wealth of job opportunities. The Bangalore based Minance has stepped forward to solve the chaotic investment landscape of the country by making three fundamental changes.
The company is vesting its focus on making investing more accessible, making the process more transparent and finally working towards centralization. Investing for higher returns has become an important factor in the average Indianās financial planning. While there are many wealth management firms targeting high net worth individuals (HNIs) and their impressive portfolios, there arenāt many players in the market helping the average Indian invest his/her hard-earned savings and realize profits from otherwise idle assets.
This is where Minance steps in to make a difference. The company aims to change that by helping investors from all walks of life invest in products that were earlier available only to the ultra-rich. Right from financial handholding, transparent dealing of investments through a customer friendly dashboard, to centralization of investments and taxation, Minance is giving the Indian consumer financial independence in the true sense of the term.
Minance is a private wealth management firm focused on providing a comprehensive range of investment product for its partners. Minance uses a combination of complex algorithms and fundamental research to guide our investment across derivatives, equity, mutual funds and private equities. Minance was founded in the year November 19th, 2014 by Anurag Bhatia. The vision is to be a one stop solution for investorās financial needs. The company also provides taxation services and is expanding to insurance, credit, and international equities.
Minance manages the investments of its partners across a range of asset classes from equities and derivatives to mutual funds and stocks of fast-growing private companies and startups. In just four-and-a-half years, Minance has 3,000 partners and an Asset under Management (AUM) of over $41 Million (Rs. 300 Crore). Bhatia the founder of Minance says that, āOur internal tagline is the money company and we want that to be a reality. To that end, we will soon be expanding into insurance and creditā.
Anurag Bhatia, the founder and CEO of Minance
When it comes to the history of minance, the company was started when Bhatia was still employed under Amazon. He noticed how a lot of employees who had vested their Amazon stocks but didnāt know what to do with the money. Bhatia who then was known to be the āstock market guyā, would help them make a deal in which he would manage his colleagueās investments in return for 1/5 of the profits. This led to Bhatia making a company known as Minance. The company, which initially offered just derivatives, soon gained traction among investors because of its low investment ceiling of Rs 25,000.
Bhatia became well known after becoming a top writer on Quora. Impressed with his knowledge of the markets, people started pouring in to invest through Minance. The young founder says that heās been humbled by the overwhelming response to his company. āThe journey has been challenging at times. What we set out to do hadnāt been done this way before and we had to build a lot of things from scratch, especially the technology,ā he says. Now the investment management firm has around 3,000 partners and has an Asset Under Management (AUM) of over Rs. 300 Crore
What makes Minance stay ahead is their belief of simply establishing a personal relationship with the people who invest with them. Over the years, the company has managed to build a family of clients who have restored their faith in Minance. Minance has been able to carve out a niche for itself in the competitive market with established players like Tata, HDFC, Future Capital, Kotak Mahindra Capital, Edelweiss stock broking and many more.
The founder of Minance, Anurag Bhatia says that, āSmall retail investors were catered to by mutual funds and the ultra-rich (investments of Rs. 30 Crore and more) went with players like ASK, HDFC, Kotak, etc. We take care of the needs of those in the middle, people who can invest anywhere between Rs. 5-10 Lakh to a few croreā. Minance products are designed in way that they cater to a wide range of risky profile needs. Minance has a product for everyone whether they are a heavy risk taker hungry for return or conservative investor looking for a stable and consistent gain.
The logo of Minance
Systematic investments plans (SIPs) are the most popular type of mutual fund as it is easy and convenient, but it comes with a problem as people forget to monitor people forget to monitor them and when market conditions change. Regular monitoring and rebalancing are needed, for which Minance offers managed mutual funds. Bhatia points out that one of the most sought-after products Minance offers is a mutual fund enabled product called Assets Pay Cash, which is designed to generate around 12% additional returns per annum over and above what the mutual fund makes.
Investing through SIPs in stock are harder since you need to gauge the market and track multiple stocks, which is time consuming. āWe are making this easier with our equity product (Bloom). Investors can set up a SIP with us, the money is parked into liquid debt funds while we wait for the right time to deploy. This way your money is still invested and we get to pick the right time to enter the market,ā explains Bhatia.
The products offered by Minance are varied in nature. The company taps into the unlisted/private equity market and carries out quality research on companies that are revolutionaries in their fields. The team at minance is focused on research and they make a point to delve into specifics before pitching an investments to their clients. Assets Pay cash (APC) is another investment strategy risk averse in nature with an aim to have you generate significant alpha above your mutual funds.
The idea is to collateralize your mutual funds, gain margin and then trade in conservative option positions. With all this, our team of Investment managers and Traders work towards being up to date with the market nuances to make informed decisions for our clients,ā he informs. Some of the known products offered by the company are:
Bloom ā Minance long tern equity product is designed to grow your wealth over a 3 to 5 year period. Both Arbor and bloom feature five risk profiles to balance risk appetite with returns.
Arbor ā Minance core derivatives product catering to aggressive investors, Arbor is designed to generate returns of up to 35%. The product is market neutral, meaning it will generate returns regardless of the market direction.
Private equities ā The Company offers shares of promising private companies such as PayTm, Ola Kurlon Mattresses, Nazara, etc.
Mutual Funds ā The company helps its partners identify and manage the most lucrative funds for a given risk level, based on the efficient frontier theory.
Assets pay cash ā This lets the partner make 12% more returns on top of their mutual funds with no additional investments.
Tax safe ā Tax safe is minance online vault which stores userās tax documents and enables them to file taxes in a fast and hassle freeway.
Global Equities ā Minance latest product enables its partners to invest in a diverse global portfolio comprising of US tech companies, European manufactures, Asian infrastructure firms and many more.
A hardworking team
Minance is backed by a young and self-reliant team that is open to opportunities and willing to learn. Bhatia say that, āFinance at the end of the day is also an empathetic business and if you do not speak to your clients the way you would like to be spoken to, the concept of client service is lost. Our team believes in being honest with our clients.ā The aim of the company is to level where it serves the elite Indian crowd.
The idea is to target the rich customers and help them manage their wealth. Traditional methods of investing have existed for centuries and the team is looking for avenues that could help them bounce from these methods to a more advanced ones. āIt’s common to worry when it comes to Futures or Options as products because they are quite complex in nature. But that’s where the trick is the want to figure that out. That defines us,ā he concludes.
Minance partners have access to all these advantages while being able to maintain complete ownership and control of their money. One of the most popular features is a sure shot investor pleaser and the ability to redeem funds anytime. By allowing complete liquidity, Minance takes away whatever apprehensions investors generally have, which make them wary of investing. Minance also enables its partners to access their accounts anytime they wish to see how their funds are doing.
It offers a web dashboard through which partners receive updates and insights about the companies they have invested their funds in. This helps them stay in loop without having to set up additional tickets on their desktop. Wealth management is an important concern for people living in a country burgeoning economically, technologically, and in many other aspects. Minance helps investors as well as novices strike this balance and provides them the perfect platform to spread their wings and experience ultimate financial freedom.
Yash Gupta
