Download the Outlook Money January ’18 Issue Here
You’ll find the Sqrrl Feature on Page 72-73 of the magazine!
Here are excerpts from the article in Outlook Money to give you a quick summary of the feature:
Samant Sikka’s Fintech start-up is helping Millennials in rural and semi-urban India save by simplifying the process of investing in mutual funds.
Where Financial intermediaries have not been able to reach in the last couple of decades, fintech company Sqrrl has—by using technology. The new-age fintech start-up seeks to help young people save and invest across small towns. In less than a year it has shattered several myths; a key one being that Millennials don’t invest or save.
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“I was looking for an app that could help me invest in mutual funds and I found it on the Play Store and the ratings were very high. For the last few months, I have been investing `5000 per month.”
Pratik Kumar Das
27-year-old lawyer in Pahartoli, Assam
In a short span of one year, Sqrrl has 28,000 users and 23 per cent of these users are first-time investors. The process of investment is paperless.
Sikka’s start-up was one of the 23 start-ups selected out of 1,200 for the Reliance GenNext Hub, an accelerator programme run by Microsoft and Reliance Industries. Just as other things can be automated, Sqrrl seeks to automate savings and make it hassle-free for customers. While it has a website (www.sqrrl.in), if investors have to invest, they will have to download the app. Sqrrl has tied up with 15 funds, accounting for 92 per cent of the asset management industry.
Sqrrl is helping young India save and invest, using new-age tools, and ride the data boom in India.
