Money Manager: Ashish Kashyap, Founder, INDMoney The company also provides a diverse set of investment solutions ranging from Indian Stocks, US Stocks, Mutual Funds, NPS etc
By Priya Kapoor
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Juggling multiple bank accounts, investments, expenses like credit card bills is no less than an herculean task and something that puts people off. In a bid to give people more control over their financial lives and save their time, Ashish Kashyap founded INDMoney. The latter is an app that helps users manage money across investments, loans, taxes and expenses through a single platform. "We are enabling consumers to automatically track their finances across all their accounts and expenses. This ability gives the consumer better control of their money thereby helping them to make informed choices and decisions to save & invest," says Ashish Kashyap, Founder, INDMoney who previously founded Goibibo.
The company also provides a diverse set of investment solutions ranging from Indian Stocks, US Stocks, Mutual Funds, NPS etc. "We have built our proprietary tech rails for various services such as KYC, onboarding, investments etc. We also leverage the power of Generative AI to deliver insightful personalized content to users. For example: Portfolio scan is one such solution that delivers powerful insights to users on the health of their investments, expenses, savings and net worth," adds Kashyap.
So, how is the company stepping up your efforts to retain customers? There are three things that it is doing for driving retention. First, Innovative investment & saving solutions: Example: SIP is Stocks, Mini Savings, global investing. Second, Personalized insights, and third is making people learn via gamification.
The brand is unit economics profitable. "However, at this stage we are investing to drive growth and category expansion," adds Kashyap.
According to Kashyap, regulation in the fintech space is excellent to drive consumer trust and, at the same time, discipline. "This also helps in onboarding the right users. It ensures only serious players operate in the space. We invest in a lot of regulatory tech to ensure that there is both risk mitigation as well as we are fully compliant."
On future plans, this former country manager of Google India says they are scaling the core rails so that they can always deliver highly reliable and performant experiences to the users. "Investing in a gamified learning system so that we can truly democratize investing for Indians."
Factsheet:
Funding received: USD 140M till date
Year of inception: 2020
No. of employees: 350+
No. of app downloads: 10M+
