Fabits to “democratize, simplify” stock market investments

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“The stock market fantasy has accelerated in the country over the past two years, all the more so because of falling interest rates”

“The stock market fantasy has accelerated in the country over the past two years, all the more so because of falling interest rates”

bangalore

Bengaluru-based fintech company Fabits has said it will democratize the stock market and IPO investment opportunities for the common man.

To that end, the company would unveil an app that will feature multiple baskets with investment options tailored to suit each investor’s wealth-building goal. App users could choose their basket by investing between ₹5,000 and ₹75,000.

“The stock market fantasy has accelerated in the country over the past couple of years, all the more because of the drop in interest rates. But unfortunately, 70-80% of people try their luck in the stock market and are losing money. Through this platform, we are trying to create a million millionaires in the country,” said Fabits CEO Dharmaraj H.

With Fabits, investors don’t need to follow market volatility, complex Sensex movement charts, or worry about daily changes in stock prices, not knowing how to invest. A dashboard would show investors how much their wealth has grown over a period of time and the options to grow it further. Once the investors have chosen their goal, decided on the investment amount and term, Fabits takes care of the investment on behalf of the investors, he said. “Wallet management requires a minimum investment of ₹50 lakh and the investor also has to pay huge service fees. But here we manage our app users’ investments for very minimal fees and the investment could be as low as ₹5,000,” he added. The Fabits app will be officially unveiled in the first week of May, when a few hundred investors are already using it, on a pilot basis, and benefiting from it, a said the company.

“Trading is exciting, but making money is not because it requires knowledge and understanding of the market. This is why we want to help investors get the most out of their investments,” added Mr. Dharmaraj.

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