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While fintech in India has been noticing a lot of activity in the banking and payments sector, there have been a few who have been finding success by focusing on niche sectors. One such sector is capital markets for retail users, which was untouched for a long time because of lack of innovative solutions and objective guidance for users.
Bringing about a change are Sandeep Manoharan, Saurabh Patel & Alok Kumar Pandey with years of experience in stock exchange, capital markets and technology. In 2012, the trio brought together their expertise to found Rupeeseed, a trading platform for brokers and other financial institutions.
Top brokerage firms like Reliance Securities, Karvy, Motilal Oswal, Prabhudas Lilladher and even NSE are a part of their impressive clientele. So, each client builds it own brand through Rupeeseed while the services offered remain the same. One of the popular products with over 30,000 downloads on the Google play store is TICK PRO which was built for Reliance securities.
Capital markets – a challenging sector
“Recently, over a huge amount of money (over 4,000 crores) has gone into mutual funds. People have not been investing directly in capital markets. We are trying to change the same with data analytics and bringing capital markets onto a mobile platform,” said Manoharan, an ex-NSE Chief Manager.
“Having worked in the capital market domain for so many years, made us realise the dire need to develop a digitised yet easy to use platform for users. So along with fundamental data and insights, we also provide advisory reports pooled in from the internet. We help users stay connected with markets and trade updates. We also give users a customised and live streaming watch-list, an intraday chart with technical indicator and even buy/sell facility from the chart along with many other options.,” he said.
But it wasn’t too simple for them. “As we set out on our journey, we faced many challenges. Capital markets being a niche sector, is not yet very popular. One of our most important challenges was to change the mindset people had towards the sector and make them realise that it is a sector worth participating and investing directly in. While we have a B2B model, we had to build a product that would attract the end user of our clients, one that is easy to use,” Manoharan said.
Rupeeseed has established itself in the niche space by building a clientele with the top brokerage firms. “We are a B2B platform, so we charge brokers who in turn give this service to their end clients. We charge on a per user model. The combination of analytics on the smartphone helps us in ushering in the real revolution,” said Manoharan. In fact, with their product TICK PRO, Reliance Securities was able to clock a much higher revenue.
Bringing a fresh perspective to capital markets
Simplifying how a consumer makes their investments by using artificial intelligence algorithms to help them invest better is what the company finds its forte.
By offering chat bots driven guidance and an outstanding UI/UX, and also a service basket that filters down the user’s investment opportunities, they are simplifying the sector. “Our algorithms provide timely insights and capture user behaviour,” he said.