India’s economy is booming but how ready are Indians to be part of that growth history?
From 2012 to 2021, inflation in the country was on average 6%, and the preferred investments are still in fixed deposits (FDs) or Recurring Deposits (RDs), with a return on average inflation.
In a conversation with your story, DePankar Biswas, CEO and FounderHe says, “In general. People in India understand that capital markets and investments are complex and require many advanced techniques. They have no clue where to start and who to follow. So they refrain from investing and put their money in FDs or RDs, the return is small.”
“That’s where we get in. We want to make finances fun. Everyone loves money to grow. But people are reluctant to do that. We want that process to be effortless and enjoyable, ”DePancar added.
Launched in 2020 by IIM-Kozhikode alumnus. Dipankar BiswasAnd technocrats Diptanil booth And Bharat Bushan., Based on Grumgram Intro Technologies Through the encouragement of Artificial Intelligence (AI) and Machine Learning (ML), it aims to change the way Indians understand finance, trade and capital market investment. Financial Awareness is the mission of Indians led by smart information discovery and collaboration with peers.
App screenshot – FlipItNews
Commenting on the beginning, DePancar said, “The first idea was simple. We want a quick notification engine with 50 word summary format for all our portfolio and tracking list stocks. We built MVP under FlipItNews and uploaded that to the Play Store in July 2020. We’ve received over a thousand downloads in just a few days. “
Recognizing the importance of a good commodity market, the founders began to talk to new investors, understand the pain points and add features such as research and news discussion.
The app on the Play Store and App Store today is a 50-word smart news platform, one-click research of any stock, smart advice from Indian top brokers and real-time engagement feed. Users can chat and chat with other app users and learn on the go.
FlipItNews is redefining capital market data consumption using advanced data science and artificial intelligence. It is not a search engine, but a search engine, and according to DePancar, “there is a lot of information about capital market and investment on the Internet.”
He says over-the-counter Capital Market tutorials are not for everyone, and FlipItNews says FlipItNews is a great place to be in the near future so that retail investors can benefit from the same.
In August 2021, the Beginner launched the Social Community and Participation Forum – Round – In its own application. DePancar Circle says India is the first community-based investment information network.
“This is a global financial revolution! For DogeCoin and GameStop, we have seen the power of community and social media. Social marketing is the future, and it is engaging the simplest and most intuitive user experience for smart and smart technology users, says DePankar.
YS Design Team
The startup is not only building the community, but also building a modern platform for any Fintech company to build their own community and engage with their target audience.
With a team size of around 20+, DePancar is responsible for managing overall product portfolio, growth and marketing. Diptanil, who is CTO, is responsible for technology and Bharat, COO, business and strategy management.
DePancar has previously served as Vice President of Global Logistics Technology, a company supported by Loco Nav, Sekoya Capital – Development and Marketing.
Diptanil, with a background in system architecture and product flows, has published numerous papers on natural image encryption and encryption. Bharat has experience working with TestBook, PepperTap, Jaypee Group, etc.
Market size and drag
The global online trading platform is projected to grow by 5.1 percent CAGR in 2021, from $ 8.59 billion to $ 12.16 billion.
Currently, with half a million downloads and more than 150,000 users per month, the app serves both as a news discovery platform as well as a social investment platform.
“We are targeting both new investors and market experts. Our product is built to add value to all investors, regardless of their level of investment,” Baharat added.
Commenting on the business model, Bharat said, “We are following the 3C model. We started with content and are now building our community. Once our community reaches a high point, we begin to integrate business into our ecosystem and generate revenue.
However, to generate any revenue, startup is currently focusing on getting engaged users.
Financial support and the future
The startup has started with a private investment of Rs 20,000. 3 million birr from Kotak Securities 7.50% share as part of the latter start-up participation and investment initiative.
At the time of this announcement Jaideep Hansraj, MD & CEO, Kotak Securities He said: “Simplifying the stock market has been crucial for retail investors, especially for thousands of years and first-time investors. FlipItNews aims to capture market share by delivering collected financial news, stock analysis and social engagement in one app. We are thrilled with the company’s vision and look forward to this partnership.
In June of this year, the startup raised Rs 18 crore around the seed, a mix of equity and alternative debt (OCDS).
Moving forward, the beginner plans to open up its features in native languages with a mission to empower investors from Level II and Level Three cities.
Competitively, globally, StockTwits and eToro are two companies that have done excellent work in the field of social investment. DePancar says the beginner wants to take advantage of being a leading player in the Indian market.