GoldenPi, Zerodha-funded fintech platform for fixed income investments, has announced a partnership with broking and investment advisory firm Axis Securities, a subsidiary company of Axis Bank Ltd and IIFL securities.
The SaaS platform will provide seamless access to retail investors looking to invest in secondary market bonds and debentures, it said in a press statement.
How it works
Once a customer logins to the platform, go to the bonds section, and check out the list of daily aggregated bonds and their pricing.
On making the payment online, the bond units are credited to the demat account.
Helping individual investors
Commenting on the partnership announcement, Abhijit Roy, CEO and Co-Founder, GoldenPi said, “On a daily basis, nearly 800 to 1,00,00 crores of corporate bonds are bought and sold in the country. It’s a massive market and through GoldenPi, our endeavour is to help individual investors to get access to this market and empower them to invest in a seamless manner. Our partnerships with wealth management institutions and brokerage firms enable us to take our plug-and-play model to a larger customer base.”
B. Gopkumar, MD & CEO, Axis Securities, said, “We have observed that individual investors are looking for better yielding alternate fixed-income products. With falling traditional instruments rates, bonds and debentures serve as an excellent option to meet this need. However, given that the bond market is largely manually driven, it needs a radical technology transformation to be made accessible to individuals. Our platform integration with GoldenPI’s SaaS product for bonds helps us meet this requirement efficiently”.
The company features daily inventory to the tune of Rs 5,000 crores for investors looking to invest as little as Rs 10,000 on its platform, it said.
Sandeep Bhardwaj, CEO - IIFL Securities, Retail Broking, said, "Our partnership with GoldenPi, is a step towards creating a new tech-enabled and trusted fixed income investing platform for people across all wealth categories.”
Currently, GoldenPi partners with over 16 financial institutions in debt market in the country. With the SaaS version of its retail-first product, the plan is to reach out to investment service and product providers to increase awareness and access to alternative fixed income investment solutions among largely risk-averse Indian investors, it said in a statement.