Bengaluru-based Social Trading Start-up Trinkerr Garners $6.6 Million from Accel India
Trinkerr, a Bengaluru-based social trading platform, has garnered $6.6 million in Series A funding led by Accel India. The business has already acquired over $8 million in total funding. Trinkerr's investors include India Quotient and Titan Capital, as well as notable angel investors such as Udaan's Sujeet Kumar, Cred's Kunal Shah, Unacademy's Gaurav Munjal and Roman Saini, and Groww's Lalit Keshre and Harsh Jain.
Trinkerr's valuation has risen dramatically since its seed round just four months ago, despite the fact that the team did not reveal it. After the debut of its app- and web-based trading platform, which has gotten overwhelmingly excellent reviews and feedback from thousands of its early users, the company's valuation has increased exponentially.
Trinkerr was started in April of this year by Manvendra Singh, an IIT Kanpur and IIM Lucknow alumnus, and his friend and batchmate Gaurav Agarwal.
Manvendra said, “we are building an enabled and empowered community of first-time and expert stock market investors”. The firm allows investors to not only follow relevant experienced traders, but also replicate their portfolios and earn comparable returns.
According to the team, it is India's first full-fledged social trading platform, with the goal of achieving financial freedom for millions of retail investors by providing free and real-time access to the trading portfolios of hundreds of India's finest stock traders.
Over the last 18 months, there has been a significant increase in the number of demat accounts in India. Manvendra says that the number of DMAT accounts has increased from 50 million to 70 million this year, spurred not only by the surge in the equity markets but also by a growing interest among young Indians in investing early and investing effectively.
Social trading allows investors to develop their own portfolio by observing the trading behaviour of experts and peers. While social trading as a concept has just lately gained traction in India, it is a well-established financial technique worldwide, pioneered by companies like a decacorn, eToro, and Public.com, a unicorn.
Manvendra explains, “however with little or no understanding of the equity market, most of the new investors are left to unverified advisory on social media platforms. After the proliferation of smartphones and with the rise of the age of discount brokers, the barriers to access financial markets have been torn down. But the real problem for a retail investor remains unsolved - which is not Why to trade but What to trade”.
Trinkerr has a squad of 55 people and expects to reach 100 in the next few months. Trinkerr aims to play a leading role in making it easier for the next generation to connect with financial markets through its own app, which is available on Android and the web. In a country where only 3.7% of people have access to equity markets, compared to 40% in developed countries, Trinkerr aims to play a leading role in making it easier for the next generation to connect with financial markets through its own app, which is available on Android and the web.
The start-up has completed its beta phase and is already experiencing a 50% increase in users and transactions on its platform month over month.
Trinkerr's valuation has risen dramatically since its seed round just four months ago, despite the fact that the team did not reveal it. After the debut of its app- and web-based trading platform, which has gotten overwhelmingly excellent reviews and feedback from thousands of its early users, the company's valuation has increased exponentially.
Trinkerr was started in April of this year by Manvendra Singh, an IIT Kanpur and IIM Lucknow alumnus, and his friend and batchmate Gaurav Agarwal.
Manvendra said, “we are building an enabled and empowered community of first-time and expert stock market investors”. The firm allows investors to not only follow relevant experienced traders, but also replicate their portfolios and earn comparable returns.
According to the team, it is India's first full-fledged social trading platform, with the goal of achieving financial freedom for millions of retail investors by providing free and real-time access to the trading portfolios of hundreds of India's finest stock traders.
Over the last 18 months, there has been a significant increase in the number of demat accounts in India. Manvendra says that the number of DMAT accounts has increased from 50 million to 70 million this year, spurred not only by the surge in the equity markets but also by a growing interest among young Indians in investing early and investing effectively.
Social trading allows investors to develop their own portfolio by observing the trading behaviour of experts and peers. While social trading as a concept has just lately gained traction in India, it is a well-established financial technique worldwide, pioneered by companies like a decacorn, eToro, and Public.com, a unicorn.
Manvendra explains, “however with little or no understanding of the equity market, most of the new investors are left to unverified advisory on social media platforms. After the proliferation of smartphones and with the rise of the age of discount brokers, the barriers to access financial markets have been torn down. But the real problem for a retail investor remains unsolved - which is not Why to trade but What to trade”.
Trinkerr has a squad of 55 people and expects to reach 100 in the next few months. Trinkerr aims to play a leading role in making it easier for the next generation to connect with financial markets through its own app, which is available on Android and the web. In a country where only 3.7% of people have access to equity markets, compared to 40% in developed countries, Trinkerr aims to play a leading role in making it easier for the next generation to connect with financial markets through its own app, which is available on Android and the web.
The start-up has completed its beta phase and is already experiencing a 50% increase in users and transactions on its platform month over month.
