GoldenPi Technologies Pvt. Ltd, a marketplace platform focused on fixed-income investments, has raised Rs 3.5 crore ($459,785 at current exchange rate) from Rainmatter Capital.
Rainmatter is a financial technology-focused fund and incubator set up by online stock trading startup Zerodha.
GoldenPi, set up in 2017 by Abhijit Roy and Samir Pratihar, says it is focused on providing fixed-income investment options – such as bonds or debentures – for individuals and larger households.
It acts as an aggregator of these instruments. The company says it curates available secondary market offerings that are rated between ‘AAA’ and ‘A’, and provides information to help in investment decision-making.
“Through our platform, we are opening up new investment options to the 70 million retail investor segment across the country. Our vision is to make quality debt investing in this bond market an easy, affordable and staple household opportunity for all,” GoldenPi chief executive officer (CEO) Roy said.
Zerodha founder and CEO Nitin Kamath said the investment in GoldenPi would help in bringing more retail investors to capital markets.
GoldenPi says it also handles the end-to-end transaction process for investors till the bonds or debentures that they invest in are credited to their dematerialisation (demat) account.
This is Rainmatter’s latest bet on a startup. The incubation platform-cum-fund says it provides capital and workspaces to companies that it backs.
It has invested in startups such as options trading platform Sensibull and digital learning platform LearnApp.
In July last year, it took part in a $1 million (around Rs 6.88 crore) seed round in commodity procurement platform Procol Tech Pvt. Ltd, with VC firm Blume Ventures also participating.
In December last year, Rainmatter committed Rs 2 crore (around $280,613) in seed funding to Quicko Infosoft Pvt. Ltd, a startup focused on tax filing.
Then, in March this year, Rainmatter led a Rs 3 crore (nearly $400,000) seed funding round in fitness-focused live-streaming platform ImStrong.