Micro-investment platform Deciml raises $1 million pre-seed fund
NEW DELHI: Deciml, a Pune-based micro-investment platform, has raised $1m in a seed round from investors including venture capitalists such as Unnati Labs, Agility Ventures and MyAsia VC .
Founded by CFA Level 2 and entrepreneur Satyajeet Kunjeer, the fintech startup enables users to start their investment journey with as little as Re 1 through mutual funds and fixed return funds.
Entrepreneurs like Gaurav Munjal, co-founder and CEO of Unacademy; Dr. Ritesh Malik, founder of Innov8 (acquired by OYO); Mukund Jha, technical director of Dunzo; and Raunak Munot, co-founder of Bombay Shaving Company participated in the round.
The round also saw the participation of creators such as Bhuvan Bam, Ranveer Allahbadia, Raj Shamani, Suhani Shah, Praful Billore, Varun Thakur, Viraj Sheth and Rohit Raj, as well as startup advisors like Abhishek Ponia.
The funds will primarily be used for customer acquisition, product enhancements and talent onboarding.
According to Deciml, it aims to change the way young adults think about investing and simplify their introduction to the investing ecosystem.
Kunjeer, Founder and CEO of Deciml, said, “Everyone wants to be rich at 40, but no one wants to stop living between 20 and 40. With growing aspirations and consumption, we wanted to create a very convenient way to get more young adults into the habit of investing, without compromising their ambitious lifestyles. We are deeply passionate about solving this problem and increasing investment penetration in India from the current low of 3.5%.”
To provide users with more ways to micro-invest regularly and achieve their goals more consistently, the app offers the ability to set daily investments as well as an option to make one-time lump sum investments.
Currently available on Google Play Store, Deciml has had over 25,000 downloads since its inception and has over ₹20 lakh assets under management (AUM) with partners such as Motilal Oswal Financial Services, Yes Bank and Lendbox.
Akshay Jain, Vice President-Investments of Unnati Labs, said, “Deciml is the piggy bank of the digital age, small imperceptible additions leading to big results. Our elders knew it, we seem to have forgotten it over the past 40 years. By instilling the habit of investing and experiencing the joys of capitalization, Deciml can play a big role in reminding our younger generations of this.”