Pune-based fintech Deciml raises $1 mn in pre-Seed round

Deciml is backed by a clutch of strategic investors that include VCs, entrepreneurs, and creators

AgenciesUpdated: Friday, June 10, 2022, 05:30 PM IST
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The funds will be utilized primarily for customer acquisition, product enhancements, and onboarding talent. /Logo |

Deciml, a micro-investing platform, was launched with the aim to fundamentally change the way young adults perceive investing and make their initiation into the investing ecosystem simpler. Founded by CFA Level 2 and experienced entrepreneur Satyajeet Kunjeer, this Pune-based fintech firm enables users to start their investing journey with as little as Rs 1 through Mutual Funds and Fixed Return Funds.

Born as a bootstrapped startup, Deciml is backed by a clutch of strategic investors that include VCs, entrepreneurs, and creators.

The Pune-based fintech firm has raised $1 million in a pre-Seed round from investors that include VC firms like Unnati Labs, Agility Ventures, and MyAsia VC; entrepreneurs like Co-Founder and CEO of Unacademy, Gaurav Munjal, Founder of Innov8 (acquired by OYO), Dr. Ritesh Malik, CTO of Dunzo, Mukund Jha, and Raunak Munot, Co-founder of Bombay Shaving Company; creators like Bhuvan Bam, Ranveer Allahbadia, Raj Shamani, Suhani Shah, Praful Billore, Varun Thakur, Viraj Sheth, and Rohit Raj; as well as start-up advisors like Abhishek Ponia.

The funds will be utilized primarily for customer acquisition, product enhancements, and onboarding talent.

Satyajeet Kunjeer, Founder and CEO, Deciml says, “Everyone wants to be rich by the age of 40, but no one wants to stop living from 20-40. With growing aspirations and consumption, we wanted to create a super convenient way to get more young adults into the investment habit, without compromising on their aspirational lifestyles. We’re deeply passionate about solving this problem and uplifting India’s investment penetration from the current low of 3.5 percent.”

Social media entrepreneur and YouTube creator, Ranveer Allahbadia of BeerBiceps said, “Deciml’s simple and intuitive app is exactly what’s needed for today’s young millennials to start investing.”

Akshay Jain, VP Investments of Unnati Labs, said “Deciml is the piggy bank for the digital age, small unnoticeable additions leading to big outcomes.”

Dr. Ritesh Malik, Founder of Innov8 (sold to OYO) said, "As someone who is passionate about building products that create impact at scale by leveraging technology, I'm really excited to join Deciml's vision of making investing easy and accessible for all, especially the youth population."

In an effort to provide users with more ways to micro-invest regularly and achieve goals more consistently, the app also offers the option of setting daily investments as well as an option to make one-time lump-sum investments.

It is currently available on Google Play Store.

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