This Fintech Startup is Helping Retail Investors Grow their Wealth through Stock Markets
Free Book Preview Money-Smart Solopreneur
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
With roughly around 1.2 billion people living in the country, India is one of the most populated nations globally and yet, less than 5 per cent of the population prefers investing in shares and mutual fund. As compared to other regions like the US and Europe, India’s numbers are extremely poor.
Look around us, how many of actually understand the markets. In fact, many of us have entered the market purely out of peer pressure or with some greed to make few extra bucks but zero knowledge.
While on the other hand, there are others who highly depend on advisory services for trading. Being said that, there are very few who analyze the markets, read the technical and fundaments of a company before placing their bet.
One of the reasons why Indians have shied away from the financial markets is due to lack of knowledge and this is what Vivek Bajaj from Kredent Infoedge wants to change.
Educating the Masses
Started in the early 2010s, Kredent is fintech startup that mainly aims to educate retail investors through Elearnmarkets, which is a joint certification from NSE Academy, NCDEX and MCX, a mobile app called StockEdge that helps people understand analytics and research and a community of like-minded people called StockEdge Club.
“We believe it's high time that an investor should start building his/her knowledge around the financial markets and should get access to various data points, which is important for bridging the gap between theory and the practical world,” Bajaj said.
Additionally, he shares that unlike other players Kredent doesn’t believe in bombarding consumers with content.
“We have almost 1 billion data point, but the idea is to give relevant content and explain simple terms like debt to equity ratio and its importance to new investors. Such deep integration of learning analytics will help first-timers enter into the market,” he added.
Data is the New Oil
With key market indices breaking their historic level, retail investment-based fintech companies have a lot of opportunities to tap in the Indian market and Kredent seems to have to been working on the right path.
The fintech startup does just provide resources in English but even in Hindi and other regional languages like Telugu and Gujarati. In fact, Kredent’s omnichannel approach to tap its retail consumers using various digital and physical resources has attracted investment from celebrated investors Ramesh Damani.
Talking about his investment in Kredent, Damani said to Entrepreneur India, that, “Data is the new Oil and Kredent exploits data to produce not only information but meaningful insights and this done in a timely and accurate way. The opportunity and the addressable market is huge and Kredent is well positioned for it.”
Last Mile Execution
Now that financial education model seems to be working in Bajaj’s favour, the entrepreneur is now looking to set up last mile execution platform which would help people invest better not just in stock markets, but even in mutual funds and insurance.
On asking him if he is eyeing a robo-advisory or discount broking model, Bajaj promptly said it will be a combination of both while adding that, “I sincerely believe that robo advisory as a term is been grossly misused. What we are trying to do is do a goal based investing platform for individuals who would tech-enabled and provide value for money transactional services.”