How AlgoBulls helps amateurs and experts invest in the stock market with AI-driven strategies

The stunning rise in the stock market in 2021 has gotten more investors excited about equities – and it shows in the numbers. Demat accounts in India grew 2x in the last 18 months and stands at 7.7 crores as of November 2021 - a number that’s expected to reach around 60 crores by 2030. What’s more, 70 percent of this daily turnover is being generated by retail investors.

To cater to this growing interest in stock market participation in India, AlgoBulls is providing an automated, customised and personalised stock market trading experience platform. The platform offers an end-to-end solution to its users with ready-to-use strategies and market knowledge in an automated form without any need of manual intervention.

The startup was founded in 2019 by Pushpak Dagade, Jimmit Patel and Suraj Bathija with an aim to democratise trading for retail traders who don’t have easy access to high-end trading technology and investment algorithms.

The startup aims to empower manual traders in capital markets who are often at a disadvantage against powerful foreign institutional investors (FII) or domestic institutional investors (DII) and professional traders, who often leverage sophisticated tools and robust automation for placing orders.

AI-driven strategies at the intersection of leading edge tech and deep trading expertise

Billing itself as ‘not just another trading software on the rack,’ AlgoBulls offers its users a host of services and AI-driven strategies at the intersection of leading edge tech and deep trading expertise. It offers mass-market investors access to sophisticated, institutional-like trading strategies, by social trading as a medium for delivering trading strategies created by professional portfolio managers and hedge fund managers.

With AlgoBulls, retail investors can enjoy the same access to potentially high yield asset classes and strategies as wealthier, accredited investors.

Expanding from 15 to 150 cities in India

With more than 51 employees, AlgoBulls’ is operational in more than 15 cities that include Mumbai, Delhi, Pune, Hyderabad, Bangalore, Ahmedabad, Nashik, Surat, Vadodara, Chennai, Rajkot, Nagpur, Indore, Bhopal, and Jaipur in India. With the upcoming D-Day round, the company intends to expand its reach to 150 cities. It also plans to launch the product in the US within the next six months.

Created with an investment of approximatel 30 lakhs, the startup has since raised 2 crores in a seed round, led by VCATs in December 2020.

Talking about AlgoBulls’ future plans of growth, Pushpak Dagade, Founder and CEO, AlgoBulls said, “We are an AI-driven, automated, and customisable service that has the potential to transform the trading experience for millions of users. The power of tech-driven trading algorithms, immune to emotional decision-making, paves the path for highly disciplined and rewarding trading strategies for our users. We hope that the investment will help the founding team with their future plans of expansion and development to thrive in the extensive and challenging financial market like the US.”

The world's first algorithmic trading platform for retail masses

Billing itself as ‘the world's first algo trading platform for retail masses, the platform primarily targets Millennial and GenZ audiences in India. The platform also offers its users ready-to-use back-tested algorithms, and allows users to combine various algorithms to create their own trading strategy and live market intelligence.

For professional traders, it offers coded and non-coded algorithms, testing of each strategy for various market conditions, automation - free of human error and bias.

Monthly subscriptions starting from INR 1500

The company offers monthly subscriptions for users who pay between INR 1500 to 5000 per month. The platform has a user base of more than 15,000 users, with more than 300 ready-to-use ‘Algo Strategies’, and has more than 25 broking houses on board. The platform has also seen more than 2,30,000 orders processed, an excess of $250 million in trade volumes, and QoQ revenue growth of 100 percent.

AlgoBulls also seeks to deploy social and copy trading, and high-frequency trading (HFT) solutions on proprietary hardware that can compete with co-location environments for millions of users.

The startup’s ultimate goal is to reach the stage of IPO in next 1200 Days and aspire to become ‘the Goldman Sachs for retail masses’ by being a one stop solution for capital markets’ trading for everyone by democratising algorithmic trading, to enable access to ready-to-use market knowledge and full automation, for one and all.