Liquide Raises Funding To Help Investors Manage Broker Accounts

SUMMARY

Wealthtech startup Liquide has raised $2.2 Mn in its pre-seed funding round led by Singapore-based M Venture Partners

The raised fund will be utilised for building a plug-and-play stock advisory platform

The startup claims to have on boarded six brokers and plans to widen its network in the next few months

Wealthtech startup Liquide has raised $2.2 Mn in its pre-seed funding round led by Singapore-based M Venture Partners.

Kunal Shah from CRED; Shashvat Nakrani and Suhail Sameer from BharatPe; Ruchi Kalra, Ashish Mohapatra and other members of Founders Fund; Chaitanya Peddi, Jayant Paleti and Rohit Chennamaneni from Darwinbox; Pradeep Parameswaran from Uber; Shantanu Deshpande from The Bombay Shaving Company; Rahul Chaudhary and Sidharth Gupta from Treebo; Kunal Suri from SimSim, Siddharth Jayanty from SoftBank; Amitabh Mall from Woolworths; Sandeep Singh, Rajeev Kumar & Sakshi Sinha from Alkem also participated in the round.

The raised fund will be utilised for building a plug-and-play stock advisory platform. The capital will also be used to develop Liquide’s equity research and analytics capabilities, and accelerate product development as well as testing.

“Over 2 Mn retail DEMAT accounts have been added since 2020. The majority of these new investors are below 34 years of age and have limited understanding of stock markets. We want to guide investors with our research and become the de facto reference point for their retail equity investments,” said Anuj Bajpai, founder and CEO of Liquide.

Founded in 2021 by IIT, IIM and BITS Pilani founders–Anuj Bajpai, Paritosh Gunjan, Aniket Shirke and Kunal Ambasta, Liquide enables investors to access all their existing broker accounts on one platform. Besides, it offers insights into investors’ portfolios, market trends and bourses. It also provides wealth consultation services to investors thus, connecting them with SEBI recognised advisors.

Liquide’s founding team holds years of experience in the industry. The founders earlier held leadership positions in MNCs such as McKinsey, Samsung, Momspresso, Crayon Data, HSBC, PWC, ZS Associates, Castlight and Wipro.

Liquide is looking to foray into six countries–Singapore, the US, Canada, the UK, UAE, and Australia. According to the startup, its mobile-based app has been downloaded over 35K times to date. It has also rolled out an AI chat bot called LiMo.

The startup claims to have boarded six brokers and plans to widen its network in the next few months.

In the Indian wealthtech space, it competes with the likes of wealthtech startups such as Wealthy and IndMoney.

As per a report, the country’s wealthtech industry, which was pegged at $20 Bn in FY2020, is projected to grow by 3x to nearly $63 Bn by FY 2025.