UNLOCK YOUR INVESTMENT JOURNEY WITH THE PUNE-BASED DECIML APP AT JUST INR 1 – Punekar News
Pune, June 1, 2022: Deciml, a micro-investment platform, has launched with the aim to fundamentally change the way young adults perceive investments and ease their entry into the investment ecosystem. Founded by CFA Level 2 and seasoned entrepreneur Satyajeet Kunjeer, this Pune-based fintech firm enables users to start their investment journey with as little as INR 1 through mutual funds and fixed income funds.
Born as a seeded startup, Deciml is today backed by a number of strategic investors that include VCs, entrepreneurs and creators. The Pune-based fintech firm has raised $1 million in a pre-seed round from investors that include – VC firms such as Unnati Labs, Agility Ventures and MyAsia VC; entrepreneurs such as Co-Founder and CEO of Unacademy, Gaurav Munjal, Founder of Innov8 (acquired by OYO), Dr. Ritesh Malik, CTO of Dunzo, Mukund Jha, and Raunak Munot, Co-Founder of Bombay Shaving Company; creators like Bhuvan Bam, Ranveer Allahbadia, Raj Shamani, Suhani Shah, Praful Billore, Varun Thakur, Viraj Sheth and Rohit Raj; as well as startup advisors such as Abhishek Ponia. The funds will primarily be used for customer acquisition, product improvements and onboarding talent.
Satyajeet Kunjeer, Founder and CEO, Deciml says, “Everyone wants to be rich by the age of 40, but no one wants to stop living from 20-40. With increasing ambition and consumption, we wanted to create a super convenient way to get more young adults into the investment habit, without compromising their aspirational lifestyles. We are passionate about solving this problem and lifting India’s investment penetration from its current low of 3.5%.”
Commenting on the official launch:
Social media entrepreneur and YouTube creator Ranveer Allahbadia of BeerBiceps said: “Deciml’s simple and intuitive app is just what is needed to get today’s young millennials into investing. Excited to join the vision of financial independence for all.”
Akshay Jain, VP Investments at Unnati Labs said “Deciml is the piggy bank of the digital age, small imperceptible additions that lead to big results. Our elders knew it, we seem to have forgotten it over the last 40 years. By to inculcate the habit of investing and experiencing the joys of compounding, Deciml can play a major role in reminding our younger generations of that.”
Dr. Ritesh Malik, Founder of Innov8 (sold to OYO) said, “As someone who is passionate about building products that create impact at scale by leveraging technology, I am very excited to join Deciml’s vision of making investments simple and accessible to everyone, especially the youth population.”
Indian actor and comedian, Varun Thakur mentioned that “There are apps you look at right now and wish they had existed when you were younger. Deciml is that app for me. I imagine it will be one of the most the essential apps for young millennials when it comes to financial independence.”
In an effort to give users more ways to micro-invest regularly and achieve goals more consistently, the app also offers the ability to set daily investments as well as an option to make one-time lump sum investments.
Currently available on the Google Play Store, Deciml has seen over 25,000 downloads since its inception and over INR 20 Lakhs in AUM with partners that include Motilal Oswal, Yes Bank and Lendbox. Deciml will also launch on the Apple Store and will be the first true micro-investment platform on iOS. Over the next five years, Deciml aims to be a one-stop financial destination for young millennials, offering a wide range of investment and financial services, tailored to user needs.
