Bengaluru (Karnataka) [India]October 18 (ANI/PRNewswire): Investmint, a signals-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-driven and science-driven approach to investing.
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The company’s Investmint trading and investing app – which is currently in open beta with early adopters – will launch widely in the coming weeks. The new funding will be used to expand its product, engineering and quantitative research teams to create a world-class retail investment product.
Today there are around 100 million demat accounts in India and this number has doubled in the last 3 years. The data and science-driven approach to investing has been used successfully by sophisticated institutional investors, but has not been available to retail or DIY investors.
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Investmint aims to democratize these techniques and be the de facto platform where retail investors can confidently make investment decisions and systematically participate in managing their own money using data-backed signals, active investment tools and an active community.
The app currently has several quantitative models for investing in stocks using long-term baskets, as well as models for actively trading on a weekly or daily basis. For advanced traders, it includes templates for trading systematically and scientifically in the Futures & Options segment.
Investmint was founded in February 2022 by Aakash Goel (previously with Headout and Instamojo) and Mohit Chitlangia (previously with Jupiter Money and CommonFloor) who have significant experience having founded previous start-ups. The core team also includes Sandeep Rao (formerly at CapitalMind) who leads quantitative research at Investmint.
Commenting on the funding, Aakash Goel, Co-Founder and CEO of 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 supporting our vision.”
Anup Gupta, Managing Director of Nexus Venture Partners, added: “The past two years have seen a substantial increase in equity investment in India by retail investors. However, high quality data models have not been readily available to retailers and DIYers. Investmint has a unique approach and product to making these data models accessible in a way that’s easy to understand and follow, and we’re excited to partner with them on this journey to catalyze individuals’ participation in the stock markets.
Investmint aims to democratize data-driven self-directed investing for retail investors in stocks and other exchange-traded asset classes. The company offers easy-to-use investing and trading tools that allow investors to make investing decisions with confidence, participate in markets consistently, and manage their money using data-backed signals, active investment tools and an active community.
Founded by Aakash Goel and Mohit Chitlangia, Investmint’s mission is to make stock markets simple, actionable and profitable for all types of retail investors, regardless of profile or preferred asset class. For more information, www.investmint.club
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