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Tuesday, November 29, 2022

Investmint gets $2M to expand its teams for retail investing product

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Trading startup Investmint has secured $2 million in a funding round headed by Nexus Venture Partners. With the money, the company will expand its product, engineering, and quantitative research teams to develop a retail investing product.

Signal-based trading and investing startup Investmint has announced it has secured $2 million in a seed funding round. Nexus Venture Partners led the round that had the participation of other angel investors.

By providing simple trading and investing tools underpinned by data and a science-driven investment methodology, Investmint seeks to make stock markets simple and actionable for regular investors.

Its trading and investing software, which is now in open Beta with early users, is set to be released in the coming weeks.

The financing will be used to develop the startup’s product, engineering, and quantitative research teams in order to construct a retail investing platform.

Aakash Goel (formerly with Headout and Instamojo) and Mohit Chitlangia started Investmint in February of this year (previously with Jupiter Money and CommonFloor)

Aakash Goel, cofounder and CEO of Investmint, stated, “At Investmint, we’re developing a solution for ordinary investors and traders who like to manage their own money. We are grateful to Nexus Venture Partners and many other early believers and angels for supporting our vision.”

Investmint’s app now includes many quantitative models for investing in stocks for long-term baskets, as well as models for trading on a weekly or daily basis. It provides models for trading futures and options for advanced traders.

Anup Gupta, managing director of Nexus Venture Partners, said,  “Retail equities investing in India has increased significantly in the recent two years. However, high-quality data models have been difficult to come by for retail and do-it-yourself investors. We are thrilled to join with Investmint since they have a unique methodology and solution to make such data models accessible.”

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