[Funding alert] Rainmatter invests Rs 3.5 Cr in fixed-income investment startup GoldenPi
Rainmatter, a fintech fund and incubator set up by online stock trading startup Zerodha, has invested Rs 3.5 crore in a Bengaluru-based online startup for fixed-income investments, GoldenPi.
Launched in 2017 by Abhijit Roy and Samir Pratihar, GoldenPi acts as an aggregator for bonds and debentures across bond institutions, capital market divisions of banks and other players in the capital markets.
In a statement, the startup said, "Until now, transactions in bonds and debentures occurred between a close-knit circle of large corporations and highly-privileged individuals who had the ability to make large investments. GoldenPi is now opening up this segment to retail players with investment values as low as Rs 10,000. Retail investors can now invest in this investment category that generates higher returns than fixed deposits".
The company claims to curate and list out the 'AAA' to 'A' rated bonds available real-time for investment in the secondary market and provides actionable information to make informed decisions.
“Through our platform, we’re opening up new investment options to the 70 million retail investor segment across the country. Our vision is to make quality debt investing in this bond market an easy, affordable, and staple household opportunity for all,” said Abhijit Roy, Co-founder and CEO, GoldenPi.
Zerodha Founder and CEO Nithin Kamath added that the investment in GoldenPi would help in bringing more retail investors in the capital markets.
GoldenPi said it also takes care of the end-to-end transaction process till the bonds are credited to the customer's account. Its bond investment options claim to offer returns as high as nine to 12 percent per annum.
In March this year, Rainmatter also led a Rs 3 crore seed funding round in online fitness platform ImStrong, along with participation of TaxiForSure Co-founder Raghunandan G. Previously, it had also backed startups such as options trading platform Sensibull, digital learning platform LearnApp, commodity procurement platform Procol Tech Pvt Ltd, tax filing startup Quicko Infosoft Pvt Ltd, and stock trading platform Streak AI among others.