Gurugram-based financial literacy start-up FlipItNews raised Rs 18 Crore in its seed investment round. The funding will be in the form of equity and OCDS, which will be used to build new product characteristics, revamp technology-based infrastructure, and acquire more customers.
FlipItNews was founded in 2020 by technocrats Bharat Bhushan, and Diptanil Das, as well as IIM alumnus Dipankar Biswas. The platform is on a mission to reinvent and expand access to financial literacy for Indians, via engagement with peers and smart information discovery.
As compared to 50% of Americans, barely 3% of Indians invest in the stock market. The wealth in the country primarily goes to banks, stock markets, and gold as an investment. FlipItNews provides a platform as an alternative to usual platforms. The platform provides a news summary summarised in 50 words. It is also launching a much-awaited feature ‘Circle’, which will be a social trading platform, coupled with advice from top brokers. As of today, more than 125,000 users have installed the FlipItNews app and are looking to reach a million users soon.
Categories: Seed Funds