Micro-investing platform Deciml raises pre-seed fund of $1 million

NEW DELHI: Deciml, a Pune-based micro-investing platform, has raised $1 million in a pre-seed spherical from buyers together with enterprise capital corporations resembling Unnati Labs, Agility Ventures, and MyAsia VC.

Based by CFA Stage 2 and entrepreneur Satyajeet Kunjeer, the fintech startup permits customers to begin their investing journey with as little as Re 1 by mutual funds and glued return funds.

Entrepreneurs like Gaurav Munjal, co-founder and CEO of Unacademy; Dr. Ritesh Malik, founding father of Innov8 (acquired by OYO); Mukund Jha, CTO of Dunzo; and Raunak Munot, co-founder of Bombay Shaving Firm participated within the spherical.

The spherical additionally noticed participation from creators resembling Bhuvan Bam, Ranveer Allahbadia, Raj Shamani, Suhani Shah, Praful Billore, Varun Thakur, Viraj Sheth, and Rohit Raj, in addition to startup advisors like Abhishek Ponia.

The funds might be used primarily for buyer acquisition, product enhancements, and onboarding expertise.

In keeping with Deciml, it goals to vary the best way younger adults understand investing and make their initiation into the investing ecosystem easier.

Kunjeer, founder and CEO, Deciml, unhappy, “Everybody desires to be wealthy by the age of 40, however nobody desires to cease dwelling from 20-40. With rising aspirations and consumption, we needed to create a brilliant handy option to get extra younger adults into the funding behavior, with out compromising on their aspirational existence. We’re deeply obsessed with fixing this drawback and uplifting India’s funding penetration from the present low of three.5%.”

To supply customers with extra methods to micro-invest usually and obtain objectives extra constantly, the app presents the choice of setting each day investments in addition to an choice to make one-time lump-sum investments.

At present accessible on Google Play Retailer, Deciml has witnessed 25,000+ downloads since its inception, and has over 20 lakh in belongings beneath administration (AUM) with companions that embody Motilal Oswal Monetary Providers, Sure Financial institution, and Lendbox.

Akshay Jain, vice-president-investments of Unnati Labs, stated, “Deciml is the piggy financial institution for the digital age, small unnoticeable additions resulting in huge outcomes. Our elders knew it, we appear to have forgotten it during the last 40 years. By inculcating the behavior of investing and experiencing the thrill of compounding, Deciml can play an enormous function in reminding our youthful generations of it.”

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