Enabling Smarter Financial Decisions: Finqa
Financial literacy is vast subject with huge importance. An online startup in finance space Finqa started in early 2013 with an aim to bring financial knowledge closer to common people. It is emerging as a leading fee based financial planning and investment advisory solutions company which focuses on creating personalized financial and investment plans for Individuals. In an exclusive interaction with Faiz Askari of SMEStreet, Abhik Prasad Co-founder & Head Marketing & Technology of Finqa.in shared his views about the market and unleashed some of his interesting understanding of India’s growing financial investment markets.
Looking after technology and operation Abhik Prasad is an alumnus of St. Stephen’s College, Delhi and IIM Lucknow. With over 10 years of experience with Cognizant, Lowe Lintas and TCS Abhik is set to drive his company to newer heights.
What are the key priorities of Finqa.in?
We are focused on educating and encouraging retail investors to a DIY (do it yourself) investing model. We are also working towards creating an online marketplace for financial products where people can buy any financial product they wish to. This market is knowledge intensive but the biggest gap is the availability of credible knowledge itself. We aim to fill this gap by extending our services.
We have become India’s first guidance based platform which provides an unbiased, relevant and personalized financial advisory service to every individuals.
What are the unique strengths of your startup?
We have developed a strong in-house expertise in range of financial services like comprehensive financial planning, investment advisory services, personal tax consultancy, estate planning, online transaction for Mutual Funds & Insurance, besides it also provide strong advisory on third party products. We remain completely un biased and we apply our thought process from the perspective of investor.
In terms of customer education, what initiatives you have taken?
We run www.fin10.com an online financial literacy portal and financial market training programme. It is a free guide for learning all about saving, investing, mutual funds, stocks, equity, insurance and managing the personal money in such a way that it grows in a much better way. We help individuals to look beyond the conventional thinking of investment.
This platform provides interesting educational tools which allow users to take the right investment decisions. The tools are in the form of practical, market oriented and easy to read content. The content is completely original in nature and is brought by specialists. As mentioned, access to Fin10 is free, which gives people to gain more confidence in using and accessing the knowledge. Their free guidance based platform enables to invest money, monitor investments, and get insights and advice on portfolio on a regular basis.
Have you got any external venture capital as of now. Are you planning to raise funds?
We are self funded and boot strapped company as of now. We always wanted to focus on establishing something credible. The initial phase of the business is getting over. And, now, we are open for the external venture capital funding.