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.
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
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