- New funding will be used to expand product, engineering & quantitative research teams
- Investmint app, currently in beta, will be widely launched in next few weeks
BENGALURU, India, Oct. 18, 2022 /PRNewswire/ — Investmint, a signal-based do-it-yourself trading and investing platform for retail investors, announced that it has raised $2 Million in seed funding led by Nexus Venture Partners, with participation from other prominent angel investors. Investmint’s vision is to make stock markets simple and actionable for everyday investors by offering easy trading and investing products backed by a data and science driven investment approach. The company’s Investmint trading and investing app – which is currently in open Beta with early adopters – will be widely launched within the next few weeks. The new funding will be used to expand its product, engineering, and quantitative research teams to create a world-class retail investing product.
Today, there are approximately 100 million demat accounts in India and the number has doubled in the last 3 years. The data and science driven investment approach has been successfully used by sophisticated institutional investors, but has not been available to retail or DIY investors. Investmint aims to democratize these techniques and be the de-facto platform where retail investors can take confident investing decisions and participate systematically to manage their own money with the help of data-backed signals, active investing tools, and an active community. The app currently has multiple quantitative models for investing in stocks using long term baskets, as well as models to trade actively on a weekly or daily basis. For advanced traders, it includes models to trade in the Futures & Options segment systematically and scientifically.
Investmint was founded in February 2022 by Aakash Goel (previously with Headout and Instamojo) and Mohit Chitlangia (previously with Jupiter Money and CommonFloor) who come with significant experience having founded previous start-ups. The core team also include Sandeep Rao (formerly with CapitalMind) who heads quantitative research at Investmint.
Commenting on the funding, Aakash Goel, Co-founder & CEO, Investmint, said, “At Investmint, we are building a game changing product for retail investors and traders who believe in managing their own funds themselves. We are grateful to Nexus Venture Partners as well as many other early believers and angels for backing our vision.”
Anup Gupta, Managing Director, Nexus Venture Partners, added, “The last two years have seen a substantial rise in equity investing in India by retail investors. However, high quality data models have not been easily accessible to retail and do-it-yourself investors. Investmint has a unique approach and product to make such data models accessible in a manner that is easy to understand and track, and we are excited to partner with them in this journey to catalyse retail participation in stock markets.”
