Tuesday, August 9, 2022

The micro-investing platform Deciml raise $1 Million in funding

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Mumbai, 31st May 2022: Deciml, a micro-investing platform, has launched with the aim to fundamentally change the way young adults perceive investing and make their initiation into the investing ecosystem simpler. Founded by CFA Level 2 and experienced entrepreneur Satyajeet Kunjeer, this Pune-based fintech firm enables users to start their investing journey with as little as ₹1 through Mutual Funds and Fixed Return Funds. 

Born as a bootstrapped startup, today Deciml is backed by a clutch 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 like Unnati Labs, Agility Ventures, and MyAsia VC; entrepreneurs like Co-Founder & 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 start-up advisors like Abhishek Ponia. The funds will be utilized primarily for customer acquisition, product enhancements, 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 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%.” 

Commenting on the official launch: 

Social media entrepreneur and YouTube creator, Ranveer Allahbadia of BeerBiceps said, “Deciml’s simple and intuitive app is exactly what’s needed for today’s young millennials to start investing. Excited to join the vision of financial independence for all.” 

Akshay Jain, VP 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.”

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’m really excited to join Deciml’s vision of making investing easy and accessible for all, especially the youth population.”

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Indian actor and comedian, Varun Thakur mentioned that “There are apps you look at right now and hope that they’d existed when you were younger. Deciml is that app for me. I foresee it becoming one of the most essential apps for young millennials when it comes to financial independence.”

In an effort to provide users with more ways to micro-invest regularly and achieve goals more consistently, the app also 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 over INR 20 Lakhs in AUM with partners that include Motilal Oswal, Yes Bank and Lendbox. Deciml will be launching on the Apple Store as well and will be the first true micro-investing platform on iOS.  In the next five years, Deciml aims to be a one-stop financial destination for young millennials, offering a wide variety of investment and financial services, customized to user needs.

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Raunak Saha
Raunak Saha
A cs engineer by profession but foodie from heart. I am tech lover guy who has a passion for singing. Football is my love and making websites is my hobby.

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