What for those who had the prospect to be taught all about buying and selling, investments and the inventory market on an actual platform, albeit with digital cash?

Bengaluru-headquartered know-how startup StockGro goals to demystify your entire journey of shopping for and promoting shares by way of its customised app, however with out involving any actual cash.

Based by Ajay Lakhotia, a enterprise capitalist turned entrepreneur in January 2020, StockGro is a social commerce platform the place people can talk about, share data, or concepts on inventory market funding in a game-like setting.

Social investing

When Ajay realised that folks primarily primarily based their selections on shares on mere interactions with their circle of mates, household or acquaintances, he was stunned.

“Folks don’t make investments primarily based on brokerage studies or fundamentals. They speak after which purchase,” says Ajay.

Acknowledging that there was potential for a enterprise concept right here, Ajay began to construct a small group to create the know-how infrastructure essential to make it easy for any person to make a digital inventory market transaction on Stockgro’s app.

The important thing promoting level of StockGro is that it doesn’t take part within the precise shopping for or promoting of shares, however helps customers perceive what the inventory market is all about just like the phrases, guidelines, nuances, and so on.

“A lot of the inventory market apps out there’s constructed for professionals, and never for bizarre people,” says Ajay.

Interactive platform

What the app does is allow customers to construct their very own portfolio, purchase or promote a inventory, and work together with others to share data, insights, and data.

Briefly, StockGro helps you shadow what a typical investor does in a inventory market, however with out having to by any actual inventory.

“There’s a massive universe on the market which isn’t investing in inventory markets, and ready for assist to grasp this market. We’re constructing a social platform the place individuals perceive, talk about and work out funding technique,” says Ajay.

The customers of StockGro may enter into numerous leagues which can be found on the app, the place they’ll take part in competitions. Relying on their efficiency, they stand to win rewards which vary from Rs 10,000 to Rs 1 lakh.

In keeping with Ajay, the entire concept was to gamify the platform so customers might create their very own funding circles, dabble in buying and selling, and take away any concern connected to the inventory market.

“The members at StockGro don’t lose cash whereas collaborating in buying and selling however can be rewarded in the event that they carry out,” says Ajay.

Entry to actual world

StockGro desires to be that platform that is only one step away from the actual world of the inventory market investments, the place customers can get comfy with this whole setting earlier than venturing out with precise cash on the exchanges.

This startup has already held talks with just a few inventory brokerage homes on how StockGro can turn out to be the through medium to assist individuals transit into precise funding platforms.

StockGro customers as we speak stand at round 1,30,000, rising from 400 once they first started operations in June 2020. The startup goals to the touch 1,000,000 customers within the subsequent couple of months.

In person demographics, round 80 % of the platform’s customers are new to inventory markets, and their profile ranges from college students, working professionals, housewives to even retired people.

Ajay maintains that the expansion is natural, and most customers come on board by way of referrals and phrase of mouth.

By way of price, StockGro doesn’t cost any person price for entry to the app. The platform hosts each paid and free video games on the positioning, relying on the leagues a person wish to take part in.

Whereas the platform covers all the knowledge relating to Indian inventory exchanges, sooner or later, it additionally desires to incorporate particulars about overseas bourses. Apart from, it additionally plans to start out different buying and selling actions of inventory markets like futures and choices (F&O), brief promoting and so on.

Future plans

As a part of its future plans, StockGro goals to create funding platforms in segments similar to gold, mutual funds, bonds and so on.

This bootstrapped enterprise obtained an angel funding of $1 million, largely from Ajay’s mates and networks.

The enterprising founder is planning on bringing aboard just a few extra influencers who can present a deeper understanding of how the inventory markets operate.

Ajay says as of now, the startup doesn’t have any direct competitors for the phase they’re working in, however he strongly believes that given the dimensions of the market, there’s room for everyone.

As they proceed their progress constitution, it isn’t with out challenges. There may be the persistent difficulty of sustaining a know-how infrastructure that’s resilient sufficient to deal with the excessive quantity of customers and messages. The startup can be very cautious about high quality customers perusing the platform, as they really feel it is very important have the appropriate engagement tradition.

Ajay indicators off by stating that the bigger influence the startup desires to make is democratising investments and “take it out of the clutches of the two % of decision-makers who determine for the 98 % of the inhabitants,” says Ajay.