Founded by Manish Maryada and Shourya Lala, Fello awards game tokens to users who invest via its platform to play its in-house games
The platform currently offers one investment class – digital gold, and plans to enlist five more by July 2022
Fello has got over 400K+ users since its launch in 2021, and intends to reach 1 Mn users by FY23
Only 6% of Indians regularly invest in growing their assets. The number is even lower among the younger people – Gen Z and Gen Y – who lack financial education and are inherently unenthusiastic about building a healthy financial portfolio.“With Fello, you’re technically linking a subtle price or incentive for a healthy banking ecosystem,” he added.“We wanted to start nudging users towards healthy finance from day one. It just felt like uncharted territory, where our demography of investors coincided with people who have an inherent inclination towards paid fantasy gaming, and 93% of them are first-time savers,” Maryada added.“We are coming up with 2-3 different asset classes now, with one core proposition – we want to give at least twice the banking returns. We have five games and one asset class right now. By July 2022, we’re launching the new version of the application where we will have three asset classes and 10-15 games,” Maryada told Inc42.
However, Bengaluru-based fintech startup Fello is trying to change this. The game-based savings & investment platform for new-age investors awards users gaming tokens for every rupee saved and invested through Fello. These tokens can be used by the users to play fun in-house games to earn rewards and prizes.