Discount broking start-up Trading Bells raises Rs 2 crore from seed round
Trading Bells aims to make trading easy, accessible and transparent for retail investors by leveraging cutting edge technology and automation
Indore-based discount broking start up Trading Bells, announced that it has raised Rs 2 crore as seed funding from leading Mumbai based stock broker Swastika Investmart. The start-up plans to utilise the funds in hiring talent, expanding office infrastructure, technology upgradation and customer acquisition.
Trading Bells aims to make trading easy, accessible and transparent for retail investors by leveraging cutting edge technology and automation. It offers zero brokerage on delivery based transactions, and lower of Rs 20 or 0.01% of the turnover per executed order for intraday and F&O transactions.
Swastika Investmart is a major stock broker since 1998 with over 75,000 clients and spread across 17 states through its 90+ branches.
Amit Gupta, Co-founder and CEO, Trading Bells, said, “Discount broking is the future and this investment from a leading industry player like Swastika validates our belief. Since our inception this year, we have witnessed great traction in terms of customer acquisition and are already generating sizeable revenues. The funds will further help us to scale rapidly and help us realize our goal of reaching 100,000 customers and Rs 45 crore revenue within the next 3 years.”
“With over 200 million people [age group: 18-55, with a minimum earning and savings capacity] who are eligible to invest in stock markets, there is enormous room for growth. Coupled with the fact that the popularity of discount broking has been soaring in the last few years and we have been planning to foray into the space for some time now. In Amit and Parth we saw a team that had the talent, experience and passion to set up a successful business. With this seed funding, we want to forge a long-term partnership with Trading Bells to build a robust and profitable company”. said, Vinit Rathi, VP-Marketing, Swastika Investmart Ltd.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.