WealthTech startup Liquide raises US$ 2.2 Million in Pre-Seed funding to transform the way India creates wealth: Liquide, an on-demand investment advisory platform for stock investors today announced it has raised US$2.2 million in pre-seed funding from Singapore-based M Venture Partners and marquee angels.
The funding round saw participation from prominent investors like Kunal Shah (Cred), Shashvat Nakrani & Suhail Sameer (BharatPe), Ruchi Kalra, Ashish Mohapatra & other members of Founders Fund (OfBusiness), Chaitanya Peddi, Jayant Paleti & Rohit Chennamaneni (Darwinbox), Pradeep Parameswaran (Uber), Shantanu Deshpande (The Bombay Shaving Company), Rahul Chaudhary & Sidharth Gupta (Treebo), Kunal Suri (SimSim), Siddharth Jayanty (SoftBank), Amitabh Mall (Woolworths) and Sandeep Singh, Rajeev Kumar & Sakshi Sinha (Alkem).
The fund raised will be deployed towards building a plug-and-play stock advisory layer to power existing brokerage accounts such as Zerodha, Upstox and Groww. The capital will also be used to enhance Liquide’s equity research & analytics capabilities and accelerate product development & testing.
The Bangalore-based company is set to change the way Indians invest in stocks and plans to go live this month for NRI investors across six countries – Singapore, the US, Canada, the UK, UAE, and Australia.
Founded in 2021 by IIT/IIM/BITS Pilani founders Anuj Bajpai, Paritosh Gunjan, Aniket Shirke and Kunal Ambasta, Liquide aspires to reinvent the way Indian investors trade. The founding team has close to two decades experience and have held leadership positions at leading multinational organisations such as McKinsey, Samsung, Momspresso, Crayon Data, HSBC, PWC, ZS Associates, Castlight and Wipro.
The app-first platform, which is available on both Android and iOS, has been downloaded 35,000+ times since launch. Liquide has currently boarded six brokers and intends to grow its network in the next few months to cover almost 90% of Demat account holders in India.
With the app, Liquide has also unveiled one of the most advanced AI/ML-based bots in the WealthTech industry – LiMo. Supervised by SEBI registered RAs & RIAs, LiMo has already helped investors with hundreds of detailed stock reports.
“Investment advisory has for long been human-centric and cost-inefficient. More than 2 million retail DEMAT accounts have been added since 2020. The majority of these new investors are below 34 years of age, have limited understanding of the markets and are heavily influenced by their social circles. We want to guide investors with ready-made research and become the de facto reference point for their retail equity investments,” said Anuj Bajpai, Founder and CEO, Liquide.
Mayank Parekh, Founder & CEO at M Venture Partners said, “Anuj and the Liquide team are making stock investment accessible and effortless for first-time investors with fun and bite-sized advisory and stock picks. We are excited to back the Liquide team as the next generation of WealthTech startups, and the traction we are seeing in the early days is very encouraging.”
An easy-to-access platform, Liquide enables users to safely log in with their existing broker accounts and access ready-made actionable insights on the portfolio, stocks and market trends.
These insights include automated buy/sell alerts and smart nudges enabled by supervised machine learning algorithms. Liquide breaks down complex financial research into easy-to-understand nuggets and thereby saving time and enabling investors to make the right decisions.
In addition, users can avail personalised wealth consultation, by connecting with SEBI registered investment advisors through a hotline to discuss money management issues and plan their investment roadmap.