Financial tools from TradersCockpit have got 25,000 users on the platform, what's ticking them?
Setup by two professionals with experience in the e-learning and software development space, TradersCockpit.com is a portal that provides information and education about financial markets. Owned by Gumption Labs Software Solutions, the company was started in 2011 by Anuraag Saboo and Amit Sharda.
The two-year-old startup offers financial markets education as well as markets analysis software using technical and fundamental principles on SAAS Model for both novice as well as expert users. TradersCockpit has a two pronged strategy, one is to educate users via offline workshops (which are also brought online) and an online subscription model where the user has access to multiple tools for learning.
TradersCockpit has conducted around 15 workshops and have 25,000 registered online users. There are two kind of subscriptions for users to choose from - Beginners and Experts, where depending on the option, these users are given different set of tools. The pricing for their service are in the range of Rs 500-1000 per month.
Of the 25,000 registered users, TradersCockpit has a conversion rate of around 2% which boils down to around 500 paying users. The site generates good traction and is among the Top 2000 most visited sites in India according to Alexa, a web information company that ranks a website based on the traffic it attracts. A deeper debate would be about what is the stickiness and the potential to convert more users into paying customers but managing to generate a captive audience in a niche domain is a commendable feat.
Having been in the e-learning space for more than a decade, Anuraag says, “India still has a long way to go to achieve financial literacy. Even highly educated people, are financially illiterate when it comes to financial markets.” And this is what they’re aiming to build. The vision is to be India's leading portal to provide access to quality and affordable financial markets education. They also want to provide quality and affordable research and analysis tools to deal with financial markets and going forward replicate their model across the globe.
They are currently a nine-member team based in Bangalore. TradersCockpit have started with their own funds and are seeking funds to fuel their growth.