A penny saved is a penny earned, but a penny just sitting in the bank for months is almost equivalent to probably the worst thing you can do to your hard-earned money. While ignorance is considered bliss is some cases, but when it comes to investments, not having a proper knowledge about where to invest and when to invest can cost you your future. If you’re one of those who don’t even know the I of investments, there are plenty of websites nowadays where such information is provided and explained the best way possible to a layman. One such startup that is trying to provide every Indian a safe and hassle-free investment experience, is a Kolkata-based startup called Rupeevest.
An online investment and research platform for Mutual Funds and Corporate FDs, Rupeevest leverages the power of smart technology and in-depth research to provide its users a fruitful investment experience. It provides it users with the following services:
- Invest Anytime You Want – Once the initial one-time paperwork is complete, a Rupeevest user can make smooth, hassle-free investments with just a click of a button.
- Have Data at your fingertips – The platform’s unique Mutual Funds Screener helps its users to scan the all mutual funds under the sun and then choose the ones that best suit their investment goals and risk appetite.
- Wealth Creation – The platform uses its proprietary rating methodology which has a proven historical performance track record, to help investors select the funds that boost of a higher probability of out-performance.
- Zero Fees – Rupeevest doesn’t charge its customers any commission or fee for their service. They have joined hands with almost all major AMCs which give them a small percent for the business that they generate with them.
- Safe and Secure – Since it is a matter of people’s hard-earned money, Rupeevest makes use of NSE NMF II transaction platform by National Stock Exchange of India which ensures state of the art technology for transactions and security.
Though the startup has several competitors in the sector like MyUniverse, FundsIndia, Value Research and Morningstar etc., but what makes Rupeevest different from others is its unique rating methodology and Mutual Funds Screener.
While a majority of mutual fund rating agencies and websites have primarily used only historical performance as their rating criteria. However, it has been seen that they are of little help to the investors as there is no recent documented history or track record of their top rated funds’ performance. Hence, RupeeVest came up with a unique Fund rating methodology that makes use of various data mining tools and advanced mathematics to help investors’ spot funds with the highest probability of outperformance. A historical track record is available on the Rupeevest website.
The startup has also put in a huge amount of research to understand the various features and data points which the investors need while making an investment and selecting a fund. Its Mutual Funds Screener provides all the relevant data of a mutual fund in an easily comprehendible and visually efficient manner in an effort to make it a world-class investment and research experience.
The unfunded startup, which currently boosts of having 300 active clients with a client Assets Under Management (AUM) of around Rs 40 crores, was co-founded by three strong individuals, Varun Mundra (CEO and CTO), Mitul Daga (Investment Research), and Mayank Mundra (COO).
All of the three co-founders belong to top institutes of India, with Varun and Mayank graduating from one of India’s premier technological institute, IIT Kharagpur, in different years. Mitul is a Commerce graduate with an MBA in Finance. Together the three bring onboard diverse experiences and problem solving skills needed to address the grey areas surrounding the mutual fund investment industry today.
The 2014 startup has 500 registered till date and has seen its AUM grow by 200 per cent from 2015. It plans to add PMS and Bonds / NCDs offerings to its existing product portfolio, develop an equity research platform, and offer its users various equity data services (both fundamental and technical) in the near future.
Website – https://www.rupeevest.com