Rainmatter Invests Rs 4 Crore in Finance Content Startup Finception
Rainmatter, the Indian fintech fund and incubator has invested a sum of Rs 4 crores in the early-stage startup – Finception. It is an initiative by Zerodha that funds and incubates innovative Indian fintech start-ups.
Majority of the online content available on the stock markets currently is in the form of research reports and financial analysis which is difficult to comprehend for a layperson who wants to learn about the stock markets.
Finception started in 2018 with the hope of making stock markets more accessible to the layperson. The platform uses storytelling as a key feature to simplify the content featured on their platform.
Finception was founded by three IIM- Ahmedabad graduates Bhanu, Shrehith, Pawan and one IIT- Delhi graduate, Lokesh in 2018.
Bhanu Harish Gurram, the Co-founder & CEO, Finception, added, “Most financial websites talk about stocks in a way that excludes a large group of readers from ever accessing this material without seriously pursuing the subject matter themselves. We wanted to change that by writing simple long-form articles around financial markets and specific stocks and giving free access to our readers. Our aim is to provide a platform for investors and non-investors to explore the world of finance through our easy-to-understand stories.”
Mr. Nithin Kamath, Founder & CEO, Zerodha, added, “We liked the idea that a platform can explain complicated stock market activities in simple language, which is very important in a country like India, where the retail investors count is hardly 2 % of the total population. This will help to spread awareness and knowledge about the markets to get more investors on the bourses.”
The company recently launched Finshots, a short 3-minute daily newsletter, covering the most important financial and business news in a language people will understand. The idea behind this product was reaching out to a wider audience among millennials and to that extent they have partnered with finance clubs at 20 business schools. B-schools such as IIMA, ISB, FMS, NMIMS, SP Jain are among the few who have tied up with the platform. The platform already has over 13,000 subscribers.
The company is currently working on building a product around managing and helping people plan their finances better. In the future, the startup aims to be the go-to platform for all things related to finance.
