“Market sentiment has increased in the country in recent years, largely because of falling interest rates”
“Market sentiment has increased in the country in recent years, largely because of falling interest rates”
Bengaluru
Bengaluru-based fintech Fabits said it would democratize the stock market and IPO investment opportunities for the common man.
To do this, the company presents an application that includes multiple baskets of customized investment options to meet each investor’s wealth building goal. App users could make their choice from the shopping cart by making investments ranging from ₹5,000 to 75,000.
“In recent years, stock market appetite has increased in the country, mainly due to falling interest rates. But unfortunately 70-80% of people try their luck in the stock market and lose money. Through this platform we are trying to create one million millionaires in the country,” said Fabits CEO Dharmaraj H.
With Fabits, investors don’t have to track market volatility, complex graphs of the Sensex movement, or worry about daily changes in stock prices without knowing how to invest. A dashboard would show investors how much their wealth has grown over time and the options to continue growing it. Once the investors have chosen their target, set the investment amount and investment duration, Fabits will handle the investment on behalf of the investors, he said. “Portfolio management requires a minimum investment of ₹50 lakh and the investor also has to pay a huge service fee. But here we manage our app users’ investments for a very small fee, and the investment could be as low as ₹5,000,” he added. The Fabits app would be officially launched in the first week of May, while a few hundred investors are already using it on a pilot basis and benefiting from it, the company said.
“Trading is exciting, but making money is not, because that requires knowledge and understanding of the market. That’s why we want to help investors get the most out of their investments,” continued Mr. Dharmaraj.
