This startup helps you invest with just Rs 100: Here is how to get started
Are you not able to make invest just because you only have a small amount for the purpose?
Are you not able to make invest just because you only have a small amount for the purpose? If yes, then this startup can help you start your investment with just Rs 100. NiYO, a fintech company, and Upwardly, a tech-enabled financial advisory startup, have jointly launched a savings and investment solution for the financially underserved population in the country.
The partnership will make their combined wealth-creation app — NiYO Bharat mobile app — available to the masses, including over 1 million existing and new users of NiYO. The new investment strategy will lower the entry barriers to structured investment to a minimum of Rs 100.
"NiYO Bharat mobile app users, who comprise blue and grey collar workers from the services and manufacturing sectors, will have a best-in-class solution with ease of convenience and top performance. The NiYO-Upwardly solution will target investors with annual incomes of $2,000 to $4,000 falling outside the purview of traditional banks and wealth management companies. This segment is estimated at over 50 million households," NiYO said in a release.
NiYO has been launching financial products that are carefully curated by the proprietary algorithms designed by Upwardly.
NiYO Co-founder and CEO Vinay Bagri said, “Financial inclusion has always been at the core of our business. We believe this will go a long way in helping both our existing and new customers manage their short-term and long-term financial needs and fulfill their financial goals in life.”
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Prateek Mehta, CEO, Upwardly, commented saying, “A minimum investment amount of Rs 100 and a choice between savings and growth options will excite our customers. We have also introduced Video KYC to seamlessly on-board NiYO customers. We expect NiYO users to widely adopt the solution and benefit from structured wealth creation.”