Photo - FinPlay (FINPLAY TECHNOLOGIES PRIVATE LIMITED)
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FinPlay (FINPLAY TECHNOLOGIES PRIVATE LIMITED)

India, Andhra Pradesh
Market: Financial services
Stage of the project: Operating business

Date of last change: 14.06.2022
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Idea

A community-led Social investment platform to help 100+ Million millennials save and invest better.

Mutual funds, Crypto & Stock baskets, and Digital Gold are the financial assets we deal with.

Current Status

Got 6000+ registered users, all organic.

80% of the registered users played at least one game, 12% of the users have invested in Digital Gold, the only financial asset available on the platform.

Average time spent on the app: 15mins per day

Problem or Opportunity

With over 2000+ mutual fund schemes, 1000+ listed stocks & lack of awareness surrounding these, a retail investor is overwhelmed. We reduce the clutter & give the retail investor with high-quality assets which can help them with wealth creation in the long run.

Even with this the major problem of awareness & entry barrier still exists. We are removing the entry barrier by using community& gamified platform cash

All in all, we are solving for the discoverability of the financial assets, reducing the entry barrier for a new investor & helping the user with the investment decision.

Solution (product or service)

-A happy flow where the user directly invests money in index funds
-Recommend model portfolios in line with their risk profile and let users invest in the portfolios
-A master community where users can join, discuss and learn about personal finance, UGC and contribution by financial experts.

Business model

We earn a commission for every transaction that happens on the platform
-Digital Gold 1.4-1.8%
-Mutual funds - 1%
-Stock & Crypto baskets - 50-80% of revenue from the exchanges
-Subscription fee for investing in our IP
-We will cross-sell other products such as secured credit, mini insurance

Incubation/Acceleration programs accomplishment

Participated and progressed to 2nd phase of inaugural edition of Appscale academy by Google and Meity.

Press release: https://timesofindia.indiatimes.com/gadgets-news/google-meity-to-help-100-indian-startups-build-high-quality-apps/articleshow/89946085.cms
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