Fintech Startup Wint Wealth Gets Online Bond Platform Provider Licence From SEBI

SUMMARY

The licence will enable the Bengaluru-based startup to continue facilitating investments in corporate bonds for retail investors

In November 2022, SEBI said that online bond platforms selling listed debt securities will need to acquire a certificate of registration

Wint Wealth claims to have facilitated cumulative investments worth over INR 1,000 Cr in corporate bonds till now

Fintech startup Wint Wealth said on Wednesday (July 26) it has received the online bond platform provider (OBPP) licence from the Securities and Exchange Board of India (SEBI).

The licence will enable the Bengaluru-based startup to continue facilitating investments in corporate bonds for retail investors.

Online debt investment aggregator platforms need to get the licence as per SEBI’s mandate. In November last year, the markets regulator directed online bond platforms selling listed debt securities to acquire a certificate of registration as a stockbroker in the wholesale debt segment under the SEBI (Stockbrokers) Regulations to function as an OBPP.

Wint Wealth claims to have facilitated cumulative investments worth over INR 1, 000 Cr in corporate bonds till now for close to 50,000 investors .

“We have always advocated the need to regulate the rapidly growing market for bonds amongst retail investors. The regulation will protect retail investors and provide authenticity to online bonds platforms that are serious about investor protection. Going forward, we will actively introduce a range of fixed-income products to our portfolio, unlocking more opportunities for retail investor,” said Ajinkya Kulkarni, cofounder and CEO of Wint Wealth.

Founded in 2020 by Kulkarni, Abhik Patel, Shashank Chimaladari and Anshul Gupta, Wint Wealth offers SIP-style aggregated debt instruments.

The startup counts Eight Roads Ventures, 3one4 Capital, Arkam Ventures, Blume Ventures, Zerodha’s Nitin Kamath, and CRED’s Kunal Shah among its investors.

Debt market investment remains low in India and the market is highly under-penetrated.

Recently, Paytm Money also launched a bonds platform to help retail investors venture into the debt market.

Wint Wealth has reportedly also applied for a non-banking finance company (NBFC) licence recently as it looks to expand its offerings and shore up its revenue. The startup may add new offerings, including loans against corporate papers held by customers, if it receives this licence.

As per Inc42’s State Of Indian Fintech Report Q2 2023, the lending tech opportunity is estimated to grow to $1.3 Tn by 2030. Consumer lending remains one of most sought after segments by Indian startup investors due to the larger addressable market.