Micro-investing platform Deciml raises pre-seed fund of $1 million
- Currently available on Google Play Store, Deciml has witnessed 25,000+ downloads since its inception, and has over ₹20 lakh in assets under management (AUM) with partners that include Motilal Oswal Financial Services, Yes Bank, and Lendbox
NEW DELHI: Deciml, a Pune-based micro-investing platform, has raised $1 million in a pre-seed round from investors including venture capital firms 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 investing 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, CTO of Dunzo; and Raunak Munot, co-founder of Bombay Shaving Company participated in the round.
The round also saw participation from 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 be used primarily for customer acquisition, product enhancements, and onboarding talent.
According to Deciml, it aims to change the way young adults perceive investing and make their initiation into the investing ecosystem simpler.
Kunjeer, founder and CEO, Deciml, said, “Everyone wants to be rich by the age of 40, but no one wants to stop living from 20-40. With growing aspirations and consumption, we wanted to create a super convenient way to get more young adults into the investment habit, without compromising on their aspirational lifestyles. We’re deeply passionate about solving this problem and uplifting India’s investment penetration from the current low of 3.5%.”
To provide users with more ways to micro-invest regularly and achieve goals more consistently, the app offers the option of setting daily investments as well as an option to make one-time lump-sum investments.
Currently available on Google Play Store, Deciml has witnessed 25,000+ downloads since its inception, and has over ₹20 lakh in assets under management (AUM) with partners that include Motilal Oswal Financial Services, Yes Bank, and Lendbox.
Akshay Jain, vice-president-investments of Unnati Labs, said, “Deciml is the piggy bank for the digital age, small unnoticeable additions leading to big outcomes. Our elders knew it, we seem to have forgotten it over the last 40 years. By inculcating the habit of investing and experiencing the joys of compounding, Deciml can play a big role in reminding our younger generations of it.”
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First Published:1 Jun 2022, 11:13 AM IST
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