Built by a team from the Top IIT’s simplifying US investing from India via crypto synthetics.
Sector: CRYPTO | FINTECH
Issues with current US investing platforms exist because of traditional financial institutions acting as intermediaries. They result in extra delays and costs at each step.
-> We are building a layer on top of simplifying US investing: FD + stock returns in one. It means users earn 5-10% FD returns on their deposits while being able to use the same deposit for investments.
Retail stock holdings in India is ~$300B. Users are looking to allocate 10-25% of their portfolio in global (US) stocks. Yet ~$10B is currently allocated to US stocks. There is a big gap primarily due to lack of a frictionless solution for US investing from India including lengthy delays at each step including onboarding, deposit, and withdrawal, 5-10% of deposited capital lost in fixed fees and FX spreads and Complex taxation and tax filing process.
From a product point of view, we compete with the likes of Vested, IndMoney, Stockal, Kuvera, etc. But we are competing truly with the likes of Zerodha, Upstox, etc. as we are competing for the same pool of money.
CEO: CS @ IIT Kanpur, VP and Head of intraday equities @ Worldquant, Portfolio Manager @ Tower Research Capital, Goldman Sachs. Built entire trading vertical @ WQ from scratch: growing it from 1 to 25+ members across 10+ offices and generating $200M PnL annually.
TECH: CS @ IITK, Goldman Sachs, Rubrik.
PRODUCT: Mech @ IITB, Lending product lead @ paytm, Karzatech.
RISK: EE @ IITK, Goldman Sachs, JP Morgan.
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