FundsIndia plans to create 'personal finance counsellor' on your mobile

FundsIndia plans to create 'personal finance counsellor' on your mobile

FundsIndia plans to create 'personal finance counsellor' on your mobile

Online investment platform FundsIndia.com is planning to create a personal finance counsellor on the mobile. The company, which was launched in 2009, through the personal finance counsellor will not only tell one where to invest or what to do with investments, but will also tell where not to.

"We are also planning to make one understand the markets and its impact on one's investments. It will also make one understand what the market condition is right now and whether to make investments or opt for some other move," said Srikanth Meenakshi, Founder and COO of FundsIndia.com, adding that the company will launch it in three to six months.

The counsellor will be part of the mobile application, and it is personalised to one's requirements.

In the last three years, FundsIndia.com with a workforce of over 350, has been growing on an average about 80% annually. "Last year our growth was close to 110% and the previous year it was about 70%. Next year, we are projecting to grow by about 100% again. Our revenue run rate is Rs 65 crore this year, and we are shooting for close to Rs 110 crore next year," he said.

Though it provides equity and other corporate offerings, mutual fund is its primary offering. The retail focused platform with over 2 lakh investors across the country has close to Rs 5,100 crore in AUM. It plans to make it to Rs 10,000 crore by the end of March 2019.

"Bengaluru remains our largest market. Of 2 lakh investors, about 20–25% are from Bengaluru, and the second largest is Mumbai and Pune," said the founder.

Vidya Bala, Head of MF Research at FundsIndia.com said they review funds every quarter.

"In terms of research, we have a 'FundsIndia - Select Fund Research list' and other than that we also rate funds," she said.

 

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