Page 29 - Top 10 India's Financial Startup 2019
P. 29
minds to leverage the opportunity its vision, the fintech products by for Financial advisors in every
and create best in solutions in the Finlabs India are strictly focused nook and corner of the country,”
finance space. The push came on educating, empowering and Nimish mentions.
when they were on a business engaging clients in order to make Also, Finlabs India’s B2C personal
visit to the Silicon Valley in 2015, the desired impact across the finance app Fiscus is gearing for
engaged with a successful tech entire value chain. Our team is not a launch in April 2019 and will
startup and was trying to work only a great mix of experienced be a useful tool in the hands of
out business synergies on behalf professionals and young blood but millennials for managing their
of their employer. During one of also business domain experts and expenses, budgeting, portfolio
their meetings, they managed to techies. That gives us a distinct tracking. “We plan to have AI &
showcase their fintech solution that advantage. ML powered customized solutions
they had developed back in India. The Developments for the consumers on this app.
Interestingly, people got bowled The journey of Finlabs India began We are also soon introducing a
over with the sophistication and in a small room in Kolkata which multilingual financial literacy
then and there and they eventually “ partner which will be rolled out
app developed with a top MNC
completeness of the tech enabled
advisory process. This was a huge
validation for them and their ideas!
for the youths in the low-income
segment,” he adds.
What makes
You may say the idea was born
As an organization, Finlabs India
took a plunge towards the end of Finlabs, stand What’s Next?
2016. out in the is currently focusing on building
The Challenges We Face robust marketing capabilities
The challenge with the fintech crowd is the to go hand in hand with its
space as a sweet spot is that it vision, product fintech capabilities. With three
attracts a lot of competition and philosophy and of its products slated to be in the
market in Q1 2019, the aim is to
Indian market being price sensitive, a competent reach out to our clients quickly
client acquisition and margins are and effectively with a value
always under pressure. Mumbai team proposition. We are also preparing
based Fin-labs India differentiates “ for an international release of our
itself through its offerings in products and closely exploring
terms of product features, robust acted as a technology incubation some key international markets
technology and relevance to centre. From a 4 people team back with synergy in terms of product
clients’ business need to offset then, the company now houses a fitment and potential.
these pressures. Challenges like strong team of 25 members and
Data Privacy & Confidentiality is still growing. The company
and Regulatory Compliance in a launched its flagshipB2B2C • Founded in: 2016
continuously evolving world order Investment Advisory platform
require a lot of preparedness and Finexa for Financial Advisors in • Founding Members:
we at Finlabs India are committed the middle of 2018 and has since Akshay Chavan
towards the same. then • Office Locations: Mumbai,
Standing Out In the Crowd received encouraging response Maharashtra
While fintech is a very broad space, from the clients. “We have • Company Strength: 11-50
recently introduced the Online
Finlabs India’s core focus is on MF Transact Module which employees
fintech products for Investment makes Finexa the only platform • Industry : Financial
Advisory, Wealth Management and to offer compre-hensive financial Services
Financial Education domain. What planning & transact capabilities. • Website: finlabsindia.com
makes it stand out in the crowd Our vision is to provide the most
is the vision, product philosophy comprehensive; integrated platform
and a competent team. In line with
November 2019 29
