Spenny is a micro saving and investment application that sets up a portfolio for users by collecting spare change from daily transactions.

Basic Information

Spenny was started in 2019 by Gaurav Arora, Rathin Shah. It is a micro saving and investment application that sets up a portfolio for users by collecting spare change from daily transactions. Every time a customer makes a transaction, Spenny rounds up the amount to the nearest 10, 20, 50 or 100 INR and invests it automatically into a “managed diversified portfolio”. The company is also offering a Mastercard debit card for saving and investing. The money is invested into the ICICI Prudential Liquid Mutual Fund. The app has bank-level security with 256-bit encryption. And the money is being managed by SEBI-regulated mutual fund houses with all the relevant licenses and certifications. Spenny charges 1% of the money invested, and people can move beyond just investing with spare change. See more

Legal Name

:

Spenny, Pvt Ltd

Headquarters

:

Bengaluru, Karnataka, India

Founding Date

:

2019

No. of Employees

:

<10

Core Team

:
1.

Gaurav Arora

Co-Founder

2.

Rathin Shah

Co-Founder and CEO

Funding

Total Funding

$150.0k

Investors

:

1.

Edward Lando

2.

Y Combinator

3.

CABRA VC