A mutual fund is a kind of investment where you buy securities of a mixed set of companies to lower your risk. Mutual funds investments can be made in different form such as Government bonds, corporate bonds, or debt funds. Mutual fund advisors mostly recommend having a diversified portfolio of different kinds of mutual funds. This ensures the goal of the investment is achieved and also the risk factor is controlled. Most of us know that mutual funds are good investment options but are not sure about how to invest.
Many people are confused about where can they invest a part of their salary. But unlike traditional investors, they are comfortable with taking risks and want to build their own portfolio based on what they think of the market. To solve this problem, many startups have come up which makes it easy for users to buy and sell mutual funds easily with minimal risk. These Mutual Fund Startups also provide you different analytics and help you decide which options will work best. So here we have compiled a list of all mutual fund startups with their features.
List of Top Mutual Fund Startups in India
- Funds India
- ORO Wealth
- Funds Inn
- Rupee Vest
- Mutual Fund Wala
- Expo Wealth
- Clear Funds
- ET Money
Which Mutual Fund to Invest in?
List of Top Mutual Fund Startup Companies in India -
|Mutual Fund Startup||Scripbox|
|Founders||Ashok Kumar ER, Sanjiv Singhal, Nilakanta Mallick|
One of India’s fastest-growing asset management platform was founded in the year 2012. Through Scripbox, one can invest in mutual funds in different categories varying from long-term, short-term, tax-saving, and emergency fund. It is safe and free of charge for investors but charges a certain amount to the mutual fund companies. You can withdraw your money at any point through Scripbox. .
Emergency Fund helps you prepare for crisis or any emergency situation. Emergency Fund is at least 6 months of your living expenses.
|Mutual Fund Startup||Upwardly|
|Founders||Prateek Mehta, Vivek Agarwal, Prithvi Raj Tejavath|
|Latest News||Upwardly and Scripbox joined hands with a unified goal of making financial goals a reality|
Upwardly helps in creating an investment portfolio that would help you achieve goals. Upwardly portfolios are convenient, secure, profitable, and automated. It has bank-grade security and is completely online and hassle-free. The market might alter so an advantage with Upwardly is it balances the portfolio once in a year so as to make it tax efficient and profitable as well.
|Mutual Fund Startup||Goalwise|
|Founders||Swapnil Bhaskar, Ankur Choudhary, Savitri Bobde|
On July 28, 2020, The Digital Banking platform Niyo Solutions acquired Goalwise for an undisclosed value. Goalwise is the intelligent investment manager that invests your money to achieve a specified goal. It differs from others as it provides portfolio re-balancing where money from previous funds is redeemed and invested in new funds. It also suggests a glide path, i.e. changing the type of fund in course of time so as to avoid any crash. It provides you with a Goal tracking facility that helps you out when you are off track.
Some of the competitors of Goalwise in the Indian Industry are, Fundsindia, Scripbox and Zerodha Coin. However, apart from Scripbox, all the others tend to be DIY platforms where the investors are supposed to do their own research. Goalwise has raised seed funding worth $1 Million (around INR 6.8 Crore) in 2016 from HNI
|Mutual Fund Startup||FundsIndia|
|Founders||C.R. Chandrasekar, Srikanth Meenakshi|
FundsIndia was launched in the year 2009. It is said to be one of the friendliest platforms to invest money. It is free of cost for a lifetime and one can also consider help from an investment advisor. It is secure and one can manage investments for family too by adding the family members to the login id. To date, FundsIndia had 18 Lakh Customers, 13 Million Transactions with over 7,800 Cr Invested.
|Mutual Fund Startup||Piggy|
|Founders||Ankush Singh, Kunal Sangwan and Nikhil Mantha|
Piggy claims to provide commission-free mutual funds to its users. This startup also acts unbiased towards customers and provides the best investment options in mutual funds. It is transparent, open, and secure. One can make an investment using their app.
|Mutual Fund Startup||Groww|
|Founders||Lalit Keshre, Harsh Jain, Neeraj Singh, Ishan Bansal|
Groww believes in making investing accessible to everyone. By building simple products, it promises to provide simple investment options. Creating the right portfolio for individuals and providing assistance to achieve goals helps to invest easier. users can also make an investment using their Groww app.
|Mutual Fund Startup||ORO Wealth|
|Founders||Nitin Agrawal, Vijay Kuppa, Yogesh Powar, Swati Aggarwal|
OROWealth provides its customers with smart investing options. It promises to provide a dedicated advisor for deciding investment options at a much cheaper price as compared to others. It also has the feature of ORO assistance that provides intelligent and personal advice. Orowealth has raised $1.6Mn in Series A funding led by Powerhouse Ventures.
|Mutual Fund Startup||Fisdom|
|Founders||Anand Dalmia, Ramganesh Iyer, Subramanya S V, Subramanya Venkat|
Fisdom which is a wealth management startup in India helps in selecting the best mutual fund investment option from the pool. All the recommendations are done on basis of intensive research. One can see their money round the clock and withdraw money with just a click. They do not charge any fees and one can get free financial advice from their wealth manager.
|Mutual Fund Startup||Jama|
|Founders||Ram Kalyan Medury|
Jama believes in simplifying money and helps people grow their wealth. It applies a simple model by having no hidden fees, no commissions, and no high fees. Jama Wealth is India's top SEBI Registered Investment Advisory, for long term investing in equity/portfolio/stocks to help wealth creation & wealth management
|Mutual Fund Startup||FundsInn|
FundsInn provides the user with a problem-free investing experience. It is an AMFI registered company that offers scientifically chosen portfolios to gain maximum returns. One can compare popular options and then decide. You can also choose a mutual fund portfolio on the basis of the goal they want to achieve.
|Mutual Fund Startup||RupeeVest|
|Founders||Varun Mundra, Mitul Daga, Mayank Mundra|
Rupeevest incorporates smart technology to provide hassle-free investing options to users. The portfolios are tailored for better returns. It charges zero fees to the user and is safe and secure.
MutualFundWala is a Delhi based company that provides mutual fund investment options through online as well as offline. They basically educate clients about Mutual Funds and understand a client’s goals. They assign a relationship manager who then helps clients in additional purchases, change in SIP, etc.
|Mutual Fund Startup||Wealthy|
|Founders||Aditya Agarwal, Amit Mondal, Prashant Gupta, Somit Srivastava, Tarun Khera|
Wealthy was launched in 2016 and has always worked to make investing easier and simpler for users. It boasts of paperless KYC, algorithm driven fund selection, and rebalancing of mutual funds. Proper asset allocation and fund selection ensure a balance between risk and rewards. Though they don’t charge anything to invest money but takes an annual fee which is 0.2% to 2.2% on the basis of the portfolio.
|Mutual Fund Startup||Nivesh|
|Founders||Anurag Garg, Sridhar Srinivasan|
Nivesh promises to give users a paperless experience of investing in mutual funds. They partner with local businesses who help investors to perform transactions and track performance. Nivesh categorizes mutual funds into broader categories and then curates as per the need of the client.
|Mutual Fund Startup||Upraise|
Upraise helps in making an investment in mutual funds easier by providing paperless KYC, zero commission, bank-grade security. One can view their investments 24/7 and withdraw it in just a click without any hassle.
|Mutual Fund Startup||Finozen|
|Founders||Arvind K Shukla|
Finozen mutual fund startup is acquired by Groww. Finozen was founded by a certified Mutual Fund Advisor, Varun Gupta. Finozen believes in providing users with a no-hassle experience while investing in mutual funds. Their main principle is to make people of about profitable investment options other than bank FDs and savings deposits.
|Mutual Fund Startup||Kuvera|
Kuvera is one of the best online platforms to invest in India that helps the user in fund selection, goal planning, tax planning, rebalancing. It claims to be a truly free investment platform that neither charges from users nor from mutual fund companies. One can invest to achieve goals, save tax, or beat inflation. One more benefit is with one account, you can create investment options for family and relatives as well and also joint accounts.
|Mutual Fund Startup||Expo Wealth|
|Founders||Kushal Kothari, Arjun Bharadwaj|
Expo Wealth works to provide users with unbiased, convenient, and transparent options to invest in mutual funds. Users are given detailed reports on how their investments are working. In addition to planning investments, they also help users to buy or sell previously brought funds with zero commission.
|Mutual Fund Startup||Invezta|
|Founders||Sharad Singh, Vivek Singal|
Invezta believes that healthy investing is everyone’s right. They claim themselves to be pro-investor. They provide users with unbiased portfolio advice that would help reach goals and get maximum returns. They charge investor with a subscription fee quarter wise.
|Mutual Fund Startup||Clear Funds|
|Parent Company||One Mobikwik Systems Private Limited|
Clear Funds was founded by Kunal Bajaj. He had quit his stockbroker job to come up with a platform that provided investors a transparent, easy to use, and safe way to invest their money. Clearfund brag about using sophisticated algorithms to provide users with an investment option that best suits them.
|Mutual Fund Startup||WealthTrust|
WealthTrust makes onboarding easier with paperless registration, portfolio monitoring. It has an expert advisory committee that provides you with the best plans to invest. They have a rapid innovation platform that rolls out improved features for seamless user experience. They also provide transparent, unbiased, and result-oriented investing options.
|Mutual Fund Startup||ET Money|
|Founders||Mukesh P Kalra|
ETMONEY App, from the house of the Times Of India Group, is a fully integrated mobile platform offering products across all sections of a user’s financial life like Direct Mutual Fund, SIP Investment, ELSS Tax Saving Schemes, NPS, Health Insurance, etc. From managing expenses to tracking your investments, from generating extra income through investments to saving money in taxes, from investing in Smart Solutions to borrowing money during the cash crunch, ETMONEY is a one-stop-shop for all financial needs.
The platform also offers personal finance strategies after taking into consideration your financial goals and your duties. The app also offers solutions for tax savings for free which will help you save up to INR 46,800.
Through this platform, you can also get access to various financial products such as insurance policies, direct mutual fund investments through SIP’s, Instant loans, etc. The app also lets you transfer money into the platform through various UPI payment apps such as Google Pay, PhonePe, Paytm, etc.
The Mutual Fund investments through the app are free of cost. The Application is available for both Android and IOS users.
So, this was a list of major mutual fund startup companies in India. Hope this list helps you to have an idea of which platform you can use to invest in mutual funds in India. With a myriad of mutual fund startups to choose from, one can easily invest through a firm that they believe can help them realize their goals. Since mutual fund investments have now become transparent, one can easily manage the various portfolios on their own. One needs to still study the market risks involved before investing.
Mutual Fund - FAQs
How much does it cost to start a mutual fund?
Estimates for initial setup costs alter from $25,000 to upwards of $100,000, depending on the nature of your mutual fund and who sets it up. The costs on an ongoing basis can make it difficult for new mutual funds to turn a profit.
Will mutual funds make you rich?
It’s good enough to help you achieve your monetary goals and at some point become financially independent which in itself is a great thing but if you want to become really rich, just investing in Mutual Funds is not going to make it happen. But investing in stocks is also not going to do it.
Do mutual funds cost money?
Every company that manages a mutual fund charges an annual fee - generally 0.5% to 2.5% of assets - as well as several other expenses. In addition, some funds slap you with a sales charge over and above those fees.
How does Groww app works?
Groww lets its users invest in mutual funds, including systematic investment planning (SIP) and equity-linked savings. Available on Android, iOS, and the web, it offers more than 5,000 mutual funds, which can be invested in directly from its Groww app.