The startup for signal-based trading and investing, Investmint, has secured $2 million in seed funding from a group of angel investors led by Nexus Venture Partners.
The startup claimed that it will utilise the funds to grow its engineering, product, and quantitative research teams in order to create a retail investment platform.
By providing simple trading and investing tools supported by data and a science-driven investment methodology, Investmint seeks to make stock markets understandable and practical for regular investors, as per reported by The Economic Times.
“At Investmint, we are building a product for retail investors and traders who believe in managing their own funds. We are grateful to Nexus Venture Partners and many other early believers and angels for backing our vision,” said Aakash Goel, cofounder & CEO of Investmint.
Aakash Goel and Mohit Chitlangia founded Investmint in February of this year to help ordinary investors engage in methodical and scientific investing.
“The last two years have seen a substantial rise in equity investing in India by retail investors. However, high-quality data models have not been easily accessible to retail and do-it-yourself investors. Investmint has a unique approach and product to make such data models accessible, and we are excited to partner with them,” said Anup Gupta, managing director of Nexus Venture Partners.
It is expected that its trading and investing app, which is now in open beta with early customers, would launch within the next weeks.
Investmint democratises data-driven, DIY investing for regular investors across share and other equities. The company provides easy-to-use various investment solutions that enable investors make confident investment decisions, engage systematically in marketplaces, and manage their finances through data-backed signals, effective investment tools.