‘Financial services’ is an area that is far from having been cracked in India. There have been many attempts by different startups but the going has been tough. Heritage Money market Services Pvt. Ltd. is an attempt in this area with its tool- Infometrics. A financial services firm, it provides investment research and advance data analytics to institutions and individuals.
Founded by Manish Gupta, Hemal Khandwala and his father, Dr. Bharat Khandwala, the company was started in March 2012 after they returned from US. “We created Infometrics because we found it was extremely difficult to get all the information on Indian companies for detailed analysis. Also, the available tools were cumbersome, expensive and the user-experience was very bad,” says Manish. Hemal and Manish were batch-mates at Stony Brook University, New York. Manish went on to work for Goldman Sachs in NY and Hemal worked for Cummins Inc. after which he pursued another Masters in Mathematics and went on to work at Renaissance Technologies.
Our goal with Infometrics is to provide a simple yet extremely powerful data and financial analysis tool for students as well as analysts at a fraction of cost of existing tools. Using our experience and studying the important factors that are most relevant in deciding a stock for investment, we designed our various screens to highlight those factors.
The company is bootstrapped and there have been some revenue generation with a couple of institutions they’ve worked with. “We are looking at subscription model for Infometrics. We plan to target 50 MBA colleges and another 50 Junior colleges this year in Mumbai, Pune, Ahmedabad, and Bangalore. Our goal is to achieve 2000 paying clients (students and others) this year. The subscription price is very competitive and provides the students with one stop location for learning financial analysis,” says Bharat.