Bangalore-based Tauro Investment Advisors Pvt Ltd, which operates online stock market investment platform Tauro Wealth, on Monday it has raised an undisclosed amount of seed funding led by TracxnLabs and angel investors. The startup is still in the development stage and wants to use the seed money to improve its web platform and hire developers.
Founded in 2015 by IIT Kanpur alumni Harsh Vardhan Singh and Anand Vivek Srivastava, the platform provides data and research to help investors with portfolio and investment ideas for the Indian stock markets. Tauro founders say its technology-driven platform will simplify investing and understanding of the stock markets.
According to Harsh Vardhan Singh, Co-Founder, Tauro Wealth, “The lack of such a resource is why many people consider investing in stock markets similar to gambling in a casino. And I feel quite strongly that technology can bridge this wide gap between investors and the stock market.”
Tauro Wealth believes simplicity is the key to encouraging active participation in the stock market. Financial jargon is oftentimes overwhelming and makes certain concepts sound more complicated than the reality.
It hopes it can use technology to bridge this gap while still providing a service that is powerful enough to challenge tools used by financial institutionals.
TracxnLabs is an incubator of Tracxn backed by Flipkart founders Sachin Bansal and Binny Bansal.. It invests across consumer, enterprise & tech sectors, and provides MVP (Minimum Viable Product) capital.
Prior to this, Tracxn Labs invested in Bangalore-based peer to peer lending marketplace startup, Loanzen, through Tracxn Syndicate. Earlier this month, Tracxn had raised an undisclosed amount of funding from a group of angel investors including Nandan Nilekani, Mohandas Pai, WhatsApp vice-president Neeraj Arora, and Junglee co-founder Anand Rajaraman, among others.