[Funding alert] Zerodha’s Rainmatter invests Rs 4 Cr in Finception
Zerodha’s early-stage fintech fund and incubator Rainmatter on Wednesday said it has invested Rs 4 crore in Finception, an early-stage startup.
Co-founded in 2018 by three IIM Ahmedabad graduates - Bhanu Harish Gurram, Shrehith Karkera, Pawan Kumar Rai, and one IIT Delhi graduate, Lokesh Gurram, Finception aims to make stock markets more accessible to the layperson. The platform uses storytelling as a key feature to simplify the content featured on their platform.
According to the firm, majority of the online content available on the stock markets currently is in the form of research reports and financial analysis, which is difficult to comprehend for a layperson who wants to learn about the stock markets.
Speaking on the fundraise, Bhanu Harish Gurram, Co-founder & CEO, Finception, added,
“Most financial websites talk about stocks in a way that excludes a large group of readers from ever accessing this material without seriously pursuing the subject matter themselves. We wanted to change that by writing simple long-form articles around financial markets and specific stocks and giving free access to our readers. Our aim is to provide a platform for investors and non-investors to explore the world of finance through our easy-to-understand stories.”
The company recently launched Finshots, a short three-minute daily newsletter, covering the most important financial and business news in a language people will understand.
The idea behind this product was reaching out to a wider audience among millennials. Further, Finception has partnered with finance clubs at 20 business schools, including names such as IIM Ahmedabad, Indian School of Business (ISB), Faculty of Management Studies, Narsee Monjee Institute of Management Studies, and SP Jain among others.
The platform already has over 13,000 subscribers, the startup claims.
Talking about the investment, Nithin Kamath, Founder & CEO, Zerodha, added,
“We liked the idea that a platform can explain complicated stock market activities in simple language, which is very important in a country like India, where the retail investors' count is hardly two percent of the total population. This will help to spread awareness and knowledge about the markets to get more investors on the bourses.”
Finception is currently working on building a product around managing and helping people plan their finances better.
(Edited by Megha Reddy)