AI Fintech Startup Raising Funds In Delhi

About Business

It is an AI-powered personal finance app offering tax services, budget and credit management, financial freedom tracking, and educational tools, built on secure blockchain technology. It seamlessly connects users to external platforms for real-world transactions.

Clientele type

Their clientele spans multiple industries, including the salon and spa sector, educational institutions, government tenders, the automobile industry, retail businesses, jewelry enterprises, healthcare providers, real estate companies, and corporate software solutions. They will be catering to a diverse range of business needs with tailored solutions.

Premises

They are working remotely.

Asking Price Includes

They want to raise funds on equity base.

Asking Price

INR 2.00 Cr

Minimum ticket size

INR 1.00 Cr

Reason

Raising funds to develop a team for disrupting the personal finance market with an AI-driven platform.

More Details

Financial literacy is lacking, with most people relying on informal advice or costly accountants due to limited education. Existing resources are overwhelming, and no single platform offers a comprehensive financial management solution. In 2023, the Indian accountancy market generated USD15.9 billion, with a CAGR of over 5% projected for 2024-2029. The audit and tax segment contributed USD 7.2 billion, representing 45% of the market. India accounted for 6.9% of the global market, with over 200,000 accountants earning an average of INR 943,470, and computerized accounting saw strong growth post-COVID-19. Market Opportunity - Total Available Market (TAM): USD15.9 billion (2023) - Serviceable Available Market (SAM): USD7.2 billion (2023) - Share of Market (SOM): 10% by mid-2026 Competition - Personal Wealth Management: Motilal Oswal Financial Services, Accurate Wealth, Angel Broking - Payroll Services: Federal, state, and local tax filing services - Personal Credit Management: Paisa Bazaar, Cred - Tax Preparation Services: PwC India, Ernst & Young, Deloitte, KPMG, Grant Thornton LLP Segments We Lack - Investment Apps: Zerodha, Groww, Upstox - Credit Apps: Various credit apps and physical credit card systems - Business Management Apps: Odoo, Khatabook It is an AI-driven personal finance platform providing personalized budgeting, financial advice, and tax optimization. We aim for 100,000 paid customers by April 2025 and 2 million by April 2026. Target Market - Primary Audience: Young professionals (ages 22-35) seeking financial independence. - Secondary Audience: Middle-income earners and tech-savvy individuals seeking advanced financial management tools. Core Features - Comprehensive Financial Analysis: Analyze income, assets, liabilities, and expenses for a clear financial health picture. - Financial Freedom Journey: Personalized graph tracking progress toward financial independence with tailored income and asset targets. - AI-Driven Budgeting and Financial Planning: Virtual accountant advising on payments, investments, and asset opportunities, integrating Indian taxation rules. - Integrated Spending and Investment Interface: Centralized platform guiding users on fund allocation to various financial apps. - Progress Tracking and Adjustments: Continuous monitoring of financial goals with the ability to make adjustments. Revenue Model - Freemium Model: Basic tools free; premium features available through subscription. - Subscription Pricing: INR2,500 per year per user. Revenue Projections Year 1 (April 2025) -Target Users: 500,000 active users -Paid Subscribers: 100,000 (20% of active users) -Annual Revenue: INR 250 million (100,000 users * INR 2,500) Operating Costs -Infrastructure and Maintenance: INR 1 million -Administrative Costs: INR 4 million -Marketing and Sales: INR 1 million -Total Operating Costs: INR 6 million Net Income Projection Year 1 - Total Revenue: INR 250 million - Total Costs: INR million - Net Profit: INR 244 million Their aims to disrupt the personal finance market with its AI-driven platform.