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Stock market investments platform, Tauro Wealth, has raised an undisclosed amount of seed funding from TracxnLabs and a few angel investors.
Bangalore-based Tauro Wealth’s platform provides investors with innovative and reliable portfolio ideas, at low costs, for the Indian stock markets. Through Tauro Wealth, existing as well as new investors can have access to the right kind of research required to invest money in stocks.
The startup will use the newly raised fund towards building the web platform, and for hiring developers.
Investing in stock markets is still considered a risky and challenging business. This is primarily due to the lack of an understandable solution, for new investors, that must be at par with the systems used by top financial institutions.
The founders believe that technology can bridge this wide gap between investors and the stock market. With this aim, Tauro Wealth was founded in 2015 by IIT Kanpur alumni, Harsh Vardhan Singh and Anand Vivek Srivastava.
According to Neha Singh of Tracxn, “Currently, while large financial institutions have access to high-end technology to make investment decisions, the lack of solutions for retail investors has always led to the notion of ‘investing’ seem like more of a risk. Tauro Wealth will play a key role in bridging this gap.”
By giving investors a platform that simplifies the process of investing, Tauro Wealth aims to empower retail investors with the right information and tools to make safe and smart investment decisions.
Currently, retail investors invest over $200 Bn in stock markets, but the number of active investors accounts for less than 2% of the total population. Through its services, the startup aims to increase this number by providing investors with complete control and transparency in the way they invest.
In January 2016, Fisdom, a Bangalore-based personal finance startup, raised about $500K (INR 3.4 Cr) from angel investors, including Raghunandan G and Aprameya Radhakrishna (Taxiforsure co-founders) and Sumit Jain(Commonfloor co-founder). Other players in this segment include Tipbazaar, Scripbox, etc.
TracxnLabs is an incubator of Tracxn. It invests across consumer, enterprise & tech sectors, and provides MVP (Minimum Viable Product) capital. It is backed by Flipkart founders, Sachin Bansal and Binny Bansal.
Prior to this, Tracxn Labs invested in Bangalore-based peer to peer lending marketplace startup, Loanzen, through Tracxn Syndicate. Earlier this month, Tracxn had raised an undisclosed amount of funding from a group of angel investors including Nandan Nilekani, Mohandas Pai, WhatsApp vice-president Neeraj Arora, and Junglee co-founder Anand Rajaraman, among others.
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